RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:market movementSure VV but, "
there are few conspiracy theories, mostly different perspecives"
You're the one that trotted out the koolaid drinking anaology. I just pointed out that if anyone was drinking the koolaid it it might be this guy:
"They have publically stated they will be replenishing the reseve at $80 wti or lower and magically that seems to be occuring,"
Use "magically" or "manipulating" it certainly seems to point to someone believing that something is being perpitrated on the public by a means that they cannot readily explain themselves but will not believe the probable explanations being profferered which almost fits the exact definition of a conspiracy theory. "A conspiracy theory is an explanation for an event or situation that asserts the existence of a conspiracy by powerful and sinister groups, often political in motivation,[3][4][5] when other explanations are more probable." https://en.wikipedia.org/wiki/Conspiracy_theory "3) For OPEC+ what I said was, in two different occasions at least, the day they announced production cuts the market sold off heavily." Were these manditory supply cuts? Or voluntary?
Like I said before many OPEC+ producing members were not even meeting their current quotas.
The cuts were toothless and the market new it and dumped whatever expectations of real cuts they had and sold off their oil futures because of it. Check out the oil price build leading up to the announcements. It's like reporting a bad ER. The market sells the news.
BTW the 600,000 bbls/d shut in by Libya is less than 5% of Chinas daily imports which are down 45% from last year. It's going to take a lot more Libya's to make up for a 45% drop in Chinese imports. And that figure is only being forecasted to get worse whch is why it not only controls the price, it dominates the futures price.
I did notice the spread has decreased though between WTI and WCS which is good for CJ.
Over $60 WCS ought to get it done for CJ
GTLA