RE:Oil newsYes. US production increases are lessening, meaning the increases are getting smaller. Some bankster talking head mentioned that the price of oil is: "climbing the wall of worry".I think that many worriers are hedging their bets that the worrying is overblown.When sentiment turns in favour of oil, there will be a quick rerating followed by the same sort of stagnation we face now.
The Saudis have raised prices for their premium clients- Asia but have also guaranteed delivery for cargoes leading to the speculation that they will short US deliveries. The US has very good weekly oil data that Asia does not so shorting US deliveries can create larger draws to influence pricing. Saudi has done this before.