Yoshua wrote:China, the crude buyer of last resort.
https://pbs.twimg.com/media/D90amN2WkAE ... me=900x900
shortonoil wrote:the US now intentionally cutting off oil production from countries like Venezuela and Iran to keep the price elevated and keep its own wheezing disaster, Shale, in business for as long as possible
China's own fields have been in decline since about 2000 when their giant, Daquing, began coming in with a 98% water cut.
China's attempt at producing Shale oil has been pretty much a failure, so it shouldn't be a surprise that they have become ever more dependent on imports.
shortonoil wrote:
With the US now intentionally cutting off oil production from countries like Venezuela and Iran to keep the price elevated and keep its own wheezing disaster, Shale, in business for as long as possible, importers like China will likely to be forced into cutting their supply. It will be interesting to see what that graph looks like in two years.
Or, in the real world, with tensions high between Iran and the US and the possibility of a shooting war in/near the Strait of Hormuz disrupting oil supplies -- gasp -- oil futures are rising meaningfully accordingly, just as the logic of supply demand would predict they do. Same as it ever was.
shortonoil wrote:Keep stuffing that MSM bullcrap into your gullet.
A large crude draw: EIA -12.788 million barrels. U.S imports are down and exports are up as the sanctions on Venezuela and Iran are kicking in.
WTI USD 60
Yoshua wrote:A large crude draw: EIA -12.788 million barrels. U.S imports are down and exports are up as the sanctions on Venezuela and Iran are kicking in.
WTI USD 60
shortonoil wrote: The world oil market is precariously balanced. How long that can hold is anyone's guess.
shortonoil wrote:It only wants to shut off oil supplies to keep the remainder of the Industry alive for a little while longer
shortonoil wrote:Dance Of The Living Dead
The befits of falling interest rates: zombie companies, lower productivity, and less competition.
Well, who could have knod?
Yoshua wrote:The WTI 50 DMA & 100 DMA are just about to form a death cross as global trade is in contraction.
https://pbs.twimg.com/media/D-DclpjW4AE ... me=900x900
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