Sean Brodrick - The natural resources analyst for MoneyandMarkets.com, and he trots the globe to bring you the best in gold, silver, oil and other commodity stocks.

Feel the Energy

by Sean Brodrick on December 17, 2008

in General

So Saudi Arabia says OPEC will cut production by another 2 million barrels a day, and Russia will go along for the ride.

 

This is the right move the Saudis had to make. And it’s good for our long-term energy future. We need exploration to provide future supply, and the only way to get that is if oil is north of $60 to $70 a barrel.

 

And now let’s look at a chart of ExxonMobil … xom1 Feel the Energy This is pre-market, so it may be old news by the time you read it. If you’re brave, you can buy energy on XOM’s retest of around 81.90, or you can wait for a confirmation close today.

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