Good morning Mermaids , After looking at the latest production /...

Good morning Mermaids , After looking at the latest production / consumption figures published by the EIA some very interesting equations arose . OPEC production to April down to 31.6 mbd , unplanned supply disruptions 2.3 mbd , May unplanned supply disruptions already added another 1.5 mbd between Venezuela and Nigeria alone . When the rest of the World is taken into account America , China ,North Sea Oil , Central Asia . A total of more than 5mbd have already been lost . This will no doubt eventually take its toll on excess inventory . And there is more to come , as little to no money has been spent on E & D , 5 billion bpy or 13.5 mbd are lost through depletion . This the very point made by Goldman Sachs . This is over kill , soon the effects of too much oil vanishing from the market will be felt . Now we know more oil can be pumped , but , the Saudis are already at capacity , Iran only needs another three hundred thousand to be at capacity . Shortages are coming and a rebalance is on the cards ....... Worth some thought ........ Cheers