RE:RE:RE:Chance to get out today?I see the increase in shale production back firing for the US. These large companies are set to spend a lot more in 2017 then previous years thinking they will get some more market share on the world market. If they continue this way I believe it will force OPEC to stop the production cuts and then you're right 30-40 dollar a barrel will happen because another 3 million barrels of oil a day will come back online. It's the US companies that will suffer as you've said by taking this huge aggressive stance in pumping as much as they possible can instead of particapating to curb the glute.
Either way, like you've said, It's a very real possibilty to see oil take a huge dive again.
Just my 2 cents on it.