Oil Erases Entire OPEC Cut Rally: “And Like That, It’s Gone”

Oil Erases Entire OPEC Cut Rally: “And Like That, It’s Gone”

Well goddammit I told you so. I don't how many times I've said that oil will almost invariably head lower (and maybe sharply lower) once everyone gets sick and tired of waiting around for something that, to be brutally honest with you, isn't f*cking coming. The whole production cut agreement was a farce from the get-go because you can't really call something a "cut" when you ramped up production going into it. That is, if the baseline from which you're cutting is elevated relative to recent hi
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2 thoughts on “Oil Erases Entire OPEC Cut Rally: “And Like That, It’s Gone”

  1. Nice quote on Bloomberg, that did not take long.

    “Al-Falih, in a clear message to the U.S. industry, said it would be “wishful thinking” to expect that Saudi Arabia and OPEC “will underwrite the investments of others at our own expense” through production cuts.”

  2. How if anyone thought that any of the principles would follow through, lets see Russia not one barrel cut, Saudi Arabia small if any cut, Iran nope. Surprise. Come on this was a smoke screen dressed up like cooperation. BS, BS, BS. Trust them, NOPE.

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