SP, page-63

xabi14,
This is the time to talk to your partner about mortgaging the house.
The Saudi's and Russia ( and perhaps Trump ) are scared about a forthcoming oil spike. So they told the Press that they might consider a bit of a let up. ...and the Press went wild....and the analysts fell for it. And so did the market.

My belief is that
1. Oil demand is increasing....1.5 mbpd
2. Oil exploration has been minimal for the last 4 years
3. Venezuela is in Dire Straights. Could easily lose another 400,000 bpd
4. Trump means business with Iran Sanctions. Could easily lose 200,000 bpd
5. The general public think oil is dead. ( electric cars etc...ps read up on Musk )
6. Angola is going backwards and the big promises from Brazil have evaporated.
7. North Sea is going down hill.
8.. Permian USA light oil is in a localised glut. They can't get the stuff to the market. Pipelines etc can't handle it.
9. And believe it or not but future LNG energy supplies are getting tighter.

Add all these up and you know something had to be done to prevent oil going into a super spike.
And so the Saudis and the Russians MAY act to alleviate a possible world catastrophe.

Just my thoughts. DYOR. Stick with oil and especially Senex.