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     Kubang Celebrity Bewarse Username: Kubang Post Number: 30930 Registered: 09-2011 Posted From: 50.66.0.62 Rating: N/A |
It's much more than what we see.. Saudi wanted Russia to get out of Syria in order to make a deal on production freeze, btw which is at all time high. Saudi also wanted Russia to stop helping Iran. Russia obliged on first and Iran wouldn't budge for production freeze at present levels, they want to ramp up and take what ever price they get. Shale wouldn't go away that easily, whenever the pice gets to $50 level production will pick up ad there are several shale plays where producers make money at $30 level. Unless demand picks up world wide, it will take time to work through this supply glut. It doesn't look good in the short term, means next 6 - 12 months. Of course one wild card would be unrest in middle east. Ignorance is bliss |