One thing I've learned is that, if the Saudis say it, you'd better take it seriously.
APC is above the rising 50-day average line and the rising 200-day average.
You have to start small. No hurry, because oil will meet resistance at $50.
The main theme since the election has been rotation.
An OPEC production cut won't do much to reduce China's demand for the cartel's oil.
Market players were not well positioned for this move and they are going to continue to look for exposure.
The rally in oil prices may last longer than many traders think it will.
I'd prefer to fade the rally by outright selling or selling the nearby months against the back months.
Saudis' production reduction provides U.S. drillers an opportunity.
News of OPEC's production cut has shares rallying.

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