If this oil move gets serious legs, it's brings into focus my thesis on inflation/bonds/interest rates. That said, they will need to agree to bigger cuts to have a major impact. Talking about a 600k bpd reduction out of circa 95m bpd demand. I think we're likely to see a momo run here, but can't see WTI carving through 50 without a lot of work.
The Big Boys, page-722
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