What are the markets doing now? Oil has been between $50 and $54, with little movement above or below, since the OPEC agreement to restrict production late last year. As news sources tell us OPEC is compliant, the price goes up, but as we wait for EIA data, oil is trending down.
Eugene Graner, from Heartland Investor Services, gives us the lowdown on why despite the fact oil has been stuck in that lower $50 range, everyone is expecting $60 oil. Will it go lower first, or will it go up? He also explains the $43.50 “pacifier number” that he assigned back in 2015. Watch the 7 minute video from February 14, 2017.