Re: Idiots Oil and Natural Gas Charts
I suspect OPEC will want to capture some volume here. They have hurt thier competition badly (and themselves) and now have oil prices at a decent level. Its probably in thier interests to push volumes out now and drop oil to say 65 or 60 brent.
The last thing I think they want is hope that oil is going to 100 re energizing the bubblenomics of shale.
60 wti aint gonna do that...also oil in the sixties really hurts EVs. The economic comparisons remain horrendous and thats in OPECs interests.
They want to get thier oil out now while its perceived as economically valuable and political powerful.
ESG scares them two ways