2 Weeks to having oil at or above $40 WTI
April crude is now 33.23, and this becomes the spot price on Tuesday. We now have US production declining 4 straight weeks, AND the rate of decline is ACCELERATING. If this bears out next Wendnesday - the decline exceeds 51,000, crude will trade up several dollars and that takes you to 37-38 dollars, and with the declines picking up steam on the downside ... it will quickly move to 40. We lived through 8 months of "iran bringing on oil" and some TV talking heads still talk about it, but the reality is they have very little capability to bring on anything. They need 150 Billion to upgrade their industry. Ralph Klein will be screaming from the grave "let the eastern Bas*ards freeze in the dark" and the montreal mayor and Ontario leader will be crying bloody murder- again