RE:RE:RE:RE:Hurricane?I don't think anyone is playing games to lower oil prices right now.
Much easier to store crude on ships and play with USA oil inventory numbers.
Not surpised USA API inventory numbers were brutal as like I have repeated 100 times on stockhouse...the oil markets struggle with oversupply whenever the USA and Canada are booming high with production and both coutnries are that is a fact...USA over 12.5 is incredible amount of production.
Sadly the most honest oil person was Putin today in saying oil would be 50 bucks without Saudi and Russia cuts and Putin is correct.
Russia and Saudi have to produce less to let USA export more or USA builds very fast.
The million dollar question is how does Saudi and Russia ever unwind these cuts...time will tell but I dont think they are in that good of a position.
I think maybe 10% of oil and gas investors grasp just how big of an oil producer USA is...