RE:RE:Russian Oil Output Near Record as Prices Fail to Slow Moment
My hypothesis was that oil producers will have to run flat out until the wheels completely fall off the bus. The inefficient producers will be assimilated and some production will get left behind.
I saw a reference that some of the Brent sea wells are being offered for sale.
I believed that Russia is runing flat out, but surprised to find an article confirming it.
What I would find interesting is where the oil is going (how much inventory is being built). China has likely built up a huge amount, as well as Japan and maybe India.
I see oil has spiked over 50 after hours.