RE:RE:RE:1 yearIventis wrote: I'd be very happy if you're right.
I think you'll be happy then! But everybody thinks they're right.....right?? Oil really can't stay at $30 all year. We are pretty much at the peak of the glut now and it's at $34. World demand growth this year is estimated to be 1-1.2M bpd while US production shrinks and the Saudis and Iraq's production will be flat YoY. I know Iran will be adding half a million per day or so but this will not be nearly enough to offset the demand growth. I think we will start to see drawdowns in inventories beginning this summer when demand finally catches up to supply. Good luck.