What’s Keeping Oil From Rallying To $75?

[Old-Ruffneck + 1,246]

The author Nick C when writing this story still hasn't figured out the "WHY" of it not rising further than it has. IMHO he just doesn't get it. If you've never working in the "patch" your missing a lot of key things. Like how and why we turn this valve on before this one. The sad fact is a lot of people put stock in his writings. But he still don't get it. Simple answer to the question, there is still much oil afloat, we are still producing like crazy and consumer confidence has lagged for few weeks. I don't need diagrams and charts to tell me when the things are going south. Keeping oil at present is good for America. Run it up some more and watch how this economy will falter. 50 to 55 WTI is a fair price. Learn to live with it. If you haven't figured the magical spot Nick, you really should go get real education.

Edited March 25, 2019 by Old-Ruffneck