Oil Price, page-791

Interesting article on the size of the big money playing with the POO these days...

"We're at a peak of bearish headlines and that usually a sign that the bottom is near," SEB commodities strategist Bjarne Schieldrop said.

Google Trends shows that queries for "oil bear market" on its Google search engine have rocketed to their highest since mid-January 2016, exactly the point at which the Brent price hit a near-13 year low of $27 a barrel before rallying.
In the US crude market, the short position held by money managers has doubled in just two months to the equivalent of nearly 190 million barrels, while in the Brent market, investors are sitting on a record short position of 169 million barrels.

http://economictimes.indiatimes.com...et-reached-peak-bear/articleshow/59323546.cms

So that's USD$15.5B worth of open short positions on WTI and Brent alone!! USD$15B+ worth of shorts that will, at some time, need to be closed out.

The indefatigable Tsvetana Paraskova continues to do good research, this time on the Eagle Ford and it's diminishing but still important economic worth to that area. The call is that WTI @ USD48 is the minimum EF new drillers need for viability.

Will Capitol Hill leave it, and the other marginal production basins to potential ruin, without some hand holding?
Interesting times.

http://oilprice.com/Energy/Oil-Prices/The-Eagle-Ford-Rebound-Needs-48-Oil.html