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XOP - Bright Future Of Oil Price And How To Profit From It
SPDR S&P Oil & Gas Explor & Product
Oil prices have seen plenty of ups and downs recently. As Rockefeller used to say about oil more than 100 years ago, it is the most difficult commodity for price prediction.
Basically, five main forces influence the oil price:
Saudi Arabia and OPEC
Russia
Shale oil
Middle East relations
Supply and demand
Saudi Arabia
Back in the 1970s and 1980s, when oil price was as difficult to predict as it is now (remember, there were no shale oil back then), best forecasts of the oil market were done by the CIA's Middle East experts who