Wells Fargo & all the other banks calling for low pricesThese banks never called the fall of oil, never called the bottom in stock prices, yet I'm supposed to take their word as gospel? They just adjust their target prices in whatever the direction a commodity is going. Once oil starts going up they will note a couple reasons for the price change and go long.
Look at it like this, the biggest shale oil producers are cutting CAPEX & halting growth. One today infact.
Rig counts are dropping 90 a week. Those are two factors that are helping to curb the glut & get things moving higher. The rest is all noise, including all the garbage the analysts spew.