Falcon + 222 SK May 2, 2019 (edited) “When the U.S. crude-oil warehouses bulge to their highest levels since September 2017, while production continues to set new high-water marks, warning signals should be flashing red,” said Stephen Innes, head of trading at SPI Asset Management. Russians didn't meet their quota. Saudi Arabia and UAE only ones cutting. I have to laugh at the "experts" saying the OPEC cuts have been effective. YES , effective in having all the sheep following the propaganda that it has cut inventory to 5 year averages. It's a joke. World inventories have gone up ! Not down. Still waiting for inventory to decrease. Its not just US production, International supply increasing. Libya conflict. Who cares. Venezuela sanctions. Who cares. Iran sanctions. Who cares. In spite of all cuts, sanctions, conflicts SUPPLY AND INVENTORY HAS GONE UP. Once the "experts" figure this out prices go down. Could be a while. Oil trades sideway in range for a bit. The world is starting to grasp reality. THE TREND: Over next 10 years DEMAND is decelerating and SUPPLY is increasing. The electrification of energy is starting OPEC reserves get stranded or at least greatly reduced prices. US shale is busting their capital budgets Q1. Sell high ! US 12.3 Million barrels a day ! Edited May 2, 2019 by Falcon Quote Share this post Link to post Share on other sites
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