RE:RE:SillyJp Morgan and Goldman have to be oil bullish as they all want the massive fees from Saudi placing more Armaco shares on the market in a cash raise for Saudi government.
Middle east is in big trouble.
Big oil importers like India and China and middle easts best customers are going to continue to electrify their rail freight lines.
This is why pushing diesel prices up is silly in 2024 and ukriane drone strikes on russia plus hamas shipping expense have done this.
India has 94% electrified their rail line after being at 45% only 4 years ago.
Europe Union is at 55-60% electrified.
China is like 72%.
Middle east should be more worried about being a stable supplier then this cuteness they showed in 2023.
Got too cocky.