Mar. 16 at 9:25 PM
$USO $CHRD $DVN $CVX $FANG The hopium of the bears' posts is quite entertaining. Meanwhile in the real world...
"Further cuts from major Middle East oil producers cannot be ruled out as storage tanks fill to the brim, bypass infrastructure approaches its limit, and the conflict shows no sign of a near-term resolution. Although the likelihood of oil supply falling to 6 million bpd is not our central case, it is still very much in the cards. If and when the crisis reaches an end, it will take months to restore operations to pre-conflict levels, with the questions of infrastructure integrity and a recalibrated geopolitical order still at play.
Aditya Saraswat, MENA Research Director at Rystad Energy"
https://oilprice.com/Energy/Energy-General/The-Disappearance-of-Arab-Heavy-and-Medium-Crude-Hits-Asian-Refineries-Hard.html
