RE:BELOW $5 THIS WEEKBiggiesmalls wrote: ANAList on bnn saying high 30s for oil now!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! opec to greedy north america will go broke before them ouch sell sell shorty sell
Well it appears that analyst completely ignores fundamentals and only pays attention to mainstream noise. Have you looked at US and OECD inventories recently. Massive draws during a seasonally weak period and Cushing at 10-11 month lows. Whether OPEC cuts production or not, we will see higher prices. The market has balanced itself. The glut is over. After another few months, the permabears will even realize this and go long. $60 by spring 2017.