Good point bystander , an interesting article in the AUS today , the theory is that shale wont be back any time soon , for various reasons . I think that the reason shale did not crash as quickly as everyone thought, is some, if not all was hedged at US $80 pb . which propped the high cost shale . Also the oil financiers held on longer than anyone thought they could . These were second tier or sub prime financial arrangements with very high interest rates . My take 'for what it is worth ' is that OPEC wants to see the oil financiers dead and buried , before a rebalancing of the o.p. , however this must be about time for o.p. to rise substantially .As all the damage has been done , now they are only hurting themselves ......
MRM Price at posting:
39.0¢ Sentiment: Hold Disclosure: Held
