RE:80 oil?Talks are continuing behind the scenes and some expect a resolution in 2 to 3 weeks. Meanwhile I would guess support at $70 oil price. Time will tell how this plays out. If neither side blinks then it will be to their own destruction. I'm sure the kingdom can't afford the financial loss or the UAE.
The thesis that shale will come online and over supply the market to $60 dollar oil I don't buy that. At the end of the day it's about $$$ bills.