Thursday, June 16, 2016

Oil reserves going lower and production is declining

There will continue to be political and other disagreements within OPEC but basically they want prices to go back up though I do not think they will want to increase production. 

And remember that oil reserves everywhere in the world are going down except for the frackers and the frackers cannot make money at these prices. So you have a situation where reserves are already in decline and production is declining.

Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.