1) Declining US Shale Production
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2) OPEC and NON OPEC in meeting on 20th March 2016
...
3) China & India started building large inventories means both fear of sharp rise in oil..Also they will consume extra Iranian Production, No Glut.
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4) Only those US Shalers who are profitable around $45/Barrel (less than 1/4 of total US Shale Producers) will remain in Oil Game, rest(3/4 of US Shale Oil Producer) will die natural death
......
Enjoy the day.
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NEXT TARGET FOR OIL. $50/Barrel. May not happen overnight but it will happen on or before May-2016
......
Oil Rally Confirmed
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