RE:RE:RE:Oil's Major Support: $40/BGood article zorgon.
You can find this quote in the article:
" This assertion does not agree with the EIA’s latest forecast that has US production falling from 9.7 million b/d of crude+condensate to 8.8 million b/d by the fall of next year."
-0.9 m b/d in about a year for US alone. I've seen that the world supply/demand surplus is about +1.5 m b/d. At current price, for sure that at current price, the rest of the world will complete the missing -0.6 m b/d in the same periode. If that happen, oil will spike, imo.
Note that numbers in my last post are in kb/d