OPEC waits for the shorts to increase and then starts to babble and the shorts run for cover.
next week should be an intersting week for oil.
no chance for interest rate hike in september IMHO, so usd will not go up too much more
oil shorts are increasing again so OPEC will respond at some point before the meeting.
we shall see if oil inventories incraase next week or another small drawdown.
don't in a normal cold winter, not talking about artic blast, USA uses a lot of heating oil, so no mild winter will draw alot if it happens.
oil rigs are slwoing down again and besides a few hot spots and sweet spots mostly in the permian, there are not that many oil wells being drilling compared to boom cycle of 2014.
so good weekend everyone