RE:RE:RE:If Barchart Of Rising Covid19 Cases Were A Stock, I'd Buy Well anything is possible Snowballer but I don't see what would cause a catastophic drop in price
Neither UAE or SA want cheaper oil and while its no secret the UAE want to pump more here's the reality . Would you rather pump 1 MMb/d at $73 or pump 1.1 MMb/d at $60 ? At the present time , less is more .
The UAE/SA will work out this situation quietly and behind closed doors but rest assured , every member of OPEC+ is happier with $70 rather than $60 . I expect co-operation and compromise since the open tap strategy is still fresh in everyone's mind .
As for Covid , vaccines are rolling out and a little panic helps keep vaccine acceptance high . Yes there are a few new lockdowns but they are temporary and localized , demand is still ramping up . People just want to get out and do things , overall , travel will still continue to increase .