RE:RE:RE:Wow what corruption…Frank, you asked where is this supply growth coming from. Ghost barrels from OPEC+ producers cheating on quotas? Non-Opec producers cranking out oil from shale plays? We know that if supply = demand then the price converges into a tighter range. varying with the USDX, geopolitical risk premium, etc. But if supply growth is greater than demand growth then we know that future prices will be lower because there'll be more supply thsn demand. And visa versa if demand growth is greater than supply growth. Maybe even Saudi is cheating and not adhering to their own production cuts. Who knows?
As far as sp manipulation then that's a big black box to me. I have no idea of how they manipulate the sp.
You also have to distinguish between heavy oil and light oil and within those two supersets the various subsets within each. They're different commodities. I can't apply wti increases to a heavy oil producer and expect to come up with a reliable projection on future share prices. It would be like projecting the future so of a corn producer or a barley producer based on changes in wheat prices because they're all cereal grains of some sort.