Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Don’t Sell Oily Shares as the Price of Crude Will Shoot Back Up.

By Malcolm Stacey

18 February 2015 03:50

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Hello Share Smashers. I'm fairly sure a load of our readers are still invested heavily in oil. I know I am.

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Comments

Chris Jones

19 February 2015, 01:55

“For example, Egypt has now started bombing Libya. That beleaguered country supplies much of the world’s black stuff,”

According to OPEC figures, pre-war Libya supplied about 5% of OPEC’s output, which ranked them 9th out of the twelve OPEC producing countries. The most recent OPEC figures for Libya show them as supplying around 3% which slips them down to 10th. Post-war their oil production figures have been dropping for the last 3 years.

Either way, I don’t see how you can equate their production figures to “supplies much of the world’s black stuff”.
alcira16247

19 February 2015, 04:19

Malcolm

Interesting piece, I too, was heavily over-weighted in oil stocks before the slump in crude prices and have had my fingers burnt good, as I radially pruned my more speculative punts.

So, whilst the market is still volatile and although with increasing world geographical tensions ( Libya being just one of many), my stance remains cautious, preferring producers with wide production geographical spreads, low drilling costs, backed with strong asset and balance sheet, rather than the more speculative money hungry explorers

Hence, for what its worth my portfolio has just two oil plays ………. BP and Soco International