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Title : So Much BS -- July 2, 2018
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So Much BS -- July 2, 2018

Let's see: 41 cents / $74.15 = 0.553%. Quite a slide.

And then on top of all that, Libya stops pumping oil! OMG. And the crude oil market doesn't even move on that news.

As I've said before, only three producers matter: Saudi Arabia, Russia, and the US. Period. Dot.

Others don't agree. From May 3, 2018:

Meme: Libya is the "new" swing producer. LOL.

One conservative estimate of the effect of this chaos [in Libya] on oil production is for a 200,000-bpd decline. This is an amount substantial enough to push prices higher, especially now that global supply is tightening thanks to OPEC’s efforts, but mostly on the back of Venezuela’s strife.

Comment: seriously? This amount is substantial enough ... seriously? North Dakota alone could see a production increase of 200,000 bopd as early as this summer.

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