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Here’s How “Complacent” FX Markets Are Ahead Of The “All-Important” OPEC Meeting
Well (get it?), it's become apparent over the past two months that the whole "these production cuts will balance the market" narrative has virtually no merit for crude.
Global demand is on shaky footing. That's a given. It seems entirely possible that the pace of global growth and trade was permanently impaired by the crisis.
So there's that.
But there's also the common sense assessment of the shale dynamic. Central bank largesse allowed otherwise insolvent production to basically hibernate
hmmmmm….sobering stuff ….i bought a mil of top mlps jan 21 16 …made a seabag of dough…I am still hanging around with a ton of mid stream stuff …a lot of gas some oil ,,avoided most upstream biggies…I am getting nervous …last five days were nerve racking …dowm yesterday 100k up today 100 k…etc…
btw ..I heard a lot of these us rigs are ready to pump but they haven’t started them up..but they are counted in the baker hughes number….a possible de facto cut by the frackers …