Renewed negotiations on OPEC raising output is hurting oil prices. But this won't stop the upside in oil prices.The proposed increase will not even replace the barrels removed by disruptions in Libya, Venezuela, and Iran sanctions. Oil will be going back up a bit from here, after the deal is reached. E&Ps need to avoid locking in hedges in the 60s, as oil will be heading back to 80s (via B. Maverick). $XOM, Exxon Mobil Corporation / H1 $BP, BP p.l.c. / H1 Spare capacity is at an all-time low. So the move here is to buy the dip.Agree or disagree? Login now to vote. Join the group of Value Stocks. With ~830 members. Comment below.