Quote:
Originally Posted by ed146
Btw, if anyone has a good out look on U.S dollar, I would definitely invest in buying futures contract on $. Goldman Sachs outlook is that $ will gain strength for about a year. If anyone is interested you can run correlation between $ and crude oil, they can see that as U.S dollar gains in value, a barrel of crude oil tends to drop.
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Several large mid east projects come online in '09 boosting production capacity also so POO will probably face continued weakness for the next while even if OPEC mange to rein the losses in, however all it really is is a second chance at the oil run up most people missed out on over the last year or so. Next 12 months is a good time to go long on oil (or oil services).