Agree downside, and the are not the only ones , Venezuela , Colombia , Canada ,Brazil , Algeria , Iraq , China , to name a few , have already cut production , for various reasons . Along with demand increasing by 1.5 bl bls per yr , and depletion as much as 5 bl bls per yr . There is a common view that too much oil will be taken off the table , this we are yet to see , but some experts are talking that way . American driving season starts soon and that may reduce inventories ..... one step at a time ...
MRM Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held
