tui, your 9 points are very important to everyone except the shortest timeframe traders.
In combination they result in oil production not keeping up with demand as soon as the end of this year, regardless of any OPEC freeze or cut.
Low prices will kill the US shale producers, with many defaulting on loans. These resources will be unavailable to the market when prices pick back up - who will finance a shale well when the Saudis can drop prices again at will.
For this reason alone, oil will be in the $50-$70bbl range by the end of the year.
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