GREY:WFREF - Post by User
Comment by
Slyincalgaryon Dec 17, 2014 3:15pm
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Post# 23241383
RE:RE:RE:From CIBC
RE:RE:RE:From CIBC Well thought out post JohnBond, but one thing you missed in your calculations is that the future market has probably 10 times the contracts than there actually are physical barrels of oil. I have believed for a long time that this has been a market manipulated drop as opposed to a true supply/demand one. Think about it, we have an over-production of what, 2 million-ish barrels per day in a market of 90+ million per day, and every country in the world can't balance their budget at these prices....not even the Saudi's who need $83 Brent. A small cut by each producing country and we have a shortage and prices skyrocket back up. I am a believer that this correction will be V shaped as opposed to most being u shaped in the past, but only time will tell. I only wish I could have been involved in the manipulation game sending it down haha... Glta!