RE:If API #s are confirmed tmrw by EIA, look for $60 oil by FriNot very optimistic for short term. WCS/WPI spread spot rised to as high as 27USD. Even we all know AOC has very good hedging program, you cannot stop market speculation. They had driven entire oil sector down no matter what type of oil companies: oil sands, traditional oil, shale oil!
Market needs a turn point to have Wall Street aboard the energy sector. This turning point will be either inventory drop below OPEC target or WTI above 60 or a combination of both.
The bright side is not too much time left! We will see 80 dollar oil in 2018!