RE:U.S. shale prod. stay on sidelines if OPEC+ slashes outputWhy can't we just find acceptance of facts on both sides , this is turning into a sledgehammer fight . BSW and I talked about this last summer , $80/b is a good price , $6 at the gas pump is not . What happens in Vienna tonight/tomorrow will really set the tone .
If oil prices spike again it leaves 2 options for the US , Biden begs Texas to start drilling (highly unlikely) or Powell starts talking 0.75% hike again . The frustrating part is it changes nothing but sentiment and sentiment is key to get that idle cash on the sidelines right now . So here's hoping this meeting shows a big stick without rapping too many knuckles , nobody will win if OPEC and the fed go to war .
All that aside , every day that goes by is another day closer to the long term goal .