The Oil barons and the Stock hawkers that hedged everything with Oil stocks these last 5 yrs are desperate desperate for anything to get the price of crude back up to above 75 a barrel ASAP. I suspect they'll manage to get what they want just as soon as the Saudis decide its time to restrict their daily output. That will be moment they think they've wiped out 90% of the marginal operations like shale oil and deep sea wells. Plus , they've almost put Russia into the crapper as well another of their long term goals.
Oil entities and politics share the same affiliation for playing the same type of games. It's cutthroat, it's all cutthroat, no prisoners taken thank you. I would agree eventually the price will go back up into that area. I'm not up on the latest predictions but some had said the summer. We'll see.
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The Oil barons and the Stock hawkers that hedged everything with Oil stocks these last 5 yrs are desperate desperate for anything to get the price of crude back up to above 75 a barrel ASAP. I suspect they'll manage to get what they want just as soon as the Saudis decide its time to restrict their daily output. That will be moment they think they've wiped out 90% of the marginal operations like shale oil and deep sea wells. Plus , they've almost put Russia into the crapper as well another of their long term goals.
Oil entities and politics share the same affiliation for playing the same type of games. It's cutthroat, it's all cutthroat, no prisoners taken thank you. I would agree eventually the price will go back up into that area. I'm not up on the latest predictions but some had said the summer. We'll see.
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