The nickname “black gold” fits perfectly for oil when you look at what could be coming in the very near future.
This precious commodity has been at basement prices for quite some time now after a long spell of oversupply. But that could all be changing very soon.
As you know, I’m constantly searching for the big money plays in the financial markets. Well, I’ve got my eye on one particular meeting that could set off the biggest play of the year…
It’s no secret that there’s always money to be made when it comes to oil. And with the current levels that the commodity is finding itself at, there’s a chance to profit greatly from even a modest climb.
But that climb has had trouble getting started…
The issue of oversupply is something that OPEC and other major oil producers have been struggling with.
We’ve been documenting this much as we’ve followed oil’s path. Most recently, Iran completely dismissed the idea of cutting production and pledged to boost oil output after having sanctions lifted.
So what can we make of oil’s slight climb over the past couple of weeks?
To put it concisely, oil’s relatively tiny rise was the result of talking about limiting supply. I think that shows us two things about oil:
1. It’s incredibly sensitive right now. It’s actively seeking a reason to begin climbing.
And…
2. If that’s the result of just talk, imagine what will happen when action is actually taken to limit oil supply.
And when that happens, I’ll definitely be focusing my efforts on my favorite oil play – the United States Oil Fund (USO).
With current levels at roughly $10, a modest climb up to last summer’s levels of $20 would be a 100% increase.
Your $1,000 investment would turn into $2,000. Your $10,000 investment would turn into $20,000. You get the point…
And it could all come down to a meeting on April 17 in which OPEC and other major oil producers will discuss a freeze on production. If that happens, get ready for the biggest moneymaking play of the year!
Thank you dear Jim .