RE:RE:USA Oil poructionProbably need USA to go down in production...even flat at 13.2m will likely be too much in 2024.
The economy outlook is not good. Consumers were still spending very hard in 2023 in USA...and still too much oil in USA that exports are running hard.
Going to be hard to avoid a dip under 70 WTI in 2024.
This OPEC meeting was terrible as it is going too allow USA producers to hedge good for first 6 months of 2024.
OPEC should have had oil under 70 right now as companies are setting their 2024 spending in north america.
YEstersay and today...whenever oil spiked over 1 dollar....could see massive hedge trades form and it is likely USA producers laughing at specualtors and taking money.
75 WTI is very lucarative for Permain basin players.
OPEC needs to learn a life lesson that GREED = punishment.
OPEC should appectiate their customer base and not take advantage.
Once Saudi start buying soccer players for hudred of millions...that was th sign