So weird. They anticipated an overproduction of over 3 million barrels on the week, and instead there are 13 million. Last week, the same thing only it was 10 million. How come, and logistically HOW can this happen, with all of the rigs laying down? How are the analysts so off with their weekly estimates? Something is rotten in Denmark.
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Tin foil cap? hahahah
I think you just dropped your tin foil cap
isn't it evil hedge funds driving the price down with their shorts?
It looks like the official increase was another 8.9 million barrels and not 13 million like the speculation last night. Someone is cheating. I don't think it's the US.
Anonymous61087 - Its nice to see that someone is awake and paying attention.
Anonymous61087 - you are a vainglorious peddler of nonsense.
It's geo-polotical. It's about crushing Iran and Russia. It is not about market share, shale oils, and the Saudi's. The US owns the house of Saudi and has since the petro dollar was created in 1973. If they don't do what they are told, they get "liberated". Just ask Saddam what happens when you sell oil for euros at a discount to the dollar. Ask the Asian countries what happens to your currency when you don't play the game the way they want. And so on and so on. And what I mean by "they" is "Dollar, INC.", the people who really run the world (Davos G20, Bilderburge, Goldman Sachs, Chantam House, The CFR).
Saudi Arabia has opened the spigots wide, Russia is pumping like there is no tomorrow, as is the US, and everyone else, and this includes ISIS through Pakistan via barrels and trucks to the tune of $4 million a day at probably $10 or $15 per barrel. (You might ask yourself how ISIS got all those 150+ new Blackwater style Toyota Tundras from San Antonio with their logos laminated to their hoods, doors, and gun turrets.)
This is the end game for who is gonna rule the roost.
The only country's left with their own central banks independent of the FED / Bank of England system are:
Russia, Iran, Cuba, North Korea, Venezuela, Cuba, Argentina, & Syria. That is it. (Hey, those are all the evil countries). Once Russia and Iran capitulate, then it's a brave new order of things. Sorry, Brazil, South Africa, and India are owned by the FED system and do their every bidding. China? Sorry, #1 trading partner with the US and have been joined at the hip since 1971.
Remember, when the Soviet Union crumbled in 1986, it was because the Saudi's brought the price of oil from $36 to about $12. Russia was toast.
Oil will go up as soon as Russia folds. That could take a couple years. Russia is in a pickle. The gov of Russia owes a little less then $300 billion, but the private companies in Russia owe about $680 billion to western banks and $280 of it is due in 4 weeks. The Russian economy is a basket case.
See here: https://www.youtube.com/watch?v=m-dsiufhMu0