Title : With WTI At $45, One Wonders If Saudi Has Made Another Trillion-Dollar Mistake -- May 4, 2017
link : With WTI At $45, One Wonders If Saudi Has Made Another Trillion-Dollar Mistake -- May 4, 2017
With WTI At $45, One Wonders If Saudi Has Made Another Trillion-Dollar Mistake -- May 4, 2017
We now have proof (which most of us suspected) that Saudi may have cut production but they more than made up for their cut in production by exporting oil in their storage -- my hunch is that Saudi was literally running out of storage and thought it clever to agree to a cut (which was pretty minimal to begin with) and then make up for the production by exporting oil out of storage.By the way, speaking of Saudi Arabia, we now learn that the Saudi "government" will control the business operations of the Aramco IPO. It might not have been stated as such but however it's phrased, the result is the same. In the big scheme of things it probably doesn't matter but just the same ....
Idle chatter.
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