OPEC has agreed to cut oil production. Historically every time

Exxon is only 16% away from all time high. I'd look into oil sands companies if I was going to invest in oil and thought the price was going to rise. Fort McMurray burned to the ground last year. Maybe the window was missed.

>>1733094
> Saudis use all political power to get oil producers to reduce oil production
> Oil price goes up
> Queue Aramco ipo
> Saudis sell off their holding to investors while oil price is high
> Oil producers start pumping oil at full capacity again
> Oil price crashes
> Aramco stock prices crashes
This is how the Saudis will privatize their loss.

>>1733094
OPEC is no longer relevant. They cut production in the past, and other producers couldn't increase production enough to make much difference in response.

OPEC cuts production today: Fracking companies are calling to confirm the rigs bookings to begin expanding their plays again.

>>1733094
I shilled Valero to a group fund I'm in back in October. They didn't buy it, but I did, and that was at ~$54.