Oil Strategist Says OPEC Won't Hold U.S. Hostage

Todd Horowitz, chief market strategist at Bubba Trading, discusses the irrelevance of OPEC in influencing WTI oil prices, highlighting the role of fracking and increasing rig counts. He predicts a continued downtrend in oil prices, suggesting they may fall to around $40. Horowitz also comments on the dollar's weakness and its potential impact on oil prices, suggesting trading strategies focused on selling oil and dollars during rallies.

What does Todd Horowitz believe about OPEC's influence on WTI oil prices?

• OPEC has a strong influence on WTI prices.

• OPEC's decisions are crucial for oil prices.

• OPEC is irrelevant to WTI prices.

• OPEC controls the fracking industry.

According to Todd, what is the expected trend for oil prices?

• Oil prices will fluctuate without a clear trend.

• Oil prices are expected to continue their downtrend.

• Oil prices will remain stable.

• Oil prices are expected to rise significantly.

What is Todd's prediction for the dollar's movement?

• The dollar will remain stable.

• The dollar will strengthen significantly.

• The dollar will fluctuate without a clear trend.

• The dollar will weaken further.

What is Todd's strategy for trading oil?

• Buy oil at any price.

• Sell oil when it reaches around $50.

• Hold oil until prices stabilize.

• Avoid trading oil altogether.

At what price does Todd suggest selling the dollar?

• When it reaches 100.

• When it stabilizes at 95.

• When it drops to 90.

• When it rallies to 98 or 98.5.