This is not the time of pumpingKids,
No pumping only dumping.
I know you pumpers have no brain, but try to understand a minimum thingi,
Why Saudi and Russia will cut production so that US shale, canadian oil sands, and Iran will get benefit? If oil goes back to $45, so all the shale production will come back in full swing, bo back to the stage where we tasted the bottom.
One very simple but impossible thingi to see high oil price is that one of the producer either Iran, Saudi, US oil shale or Russia have to be permanently mothballed or bankrupt, otherwise oil price will remain depressed forever below $40. No rescue.
Oil producer contries want keep their market share intact in volume with miminimum respect to the rate. They think that 10m barrel per day @ $30 is better than 8m barrel per day @$50 per barrel. because they cannot calculate with their lazy brain. Just like shrimp of Arabian sea - their body is much bigger that their head. They think by their body than their brain.
Apply your brain and stop pumping.