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barracudaking

734 Posts.

130

15/02/16

23:08

Post #: 17026918
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Originally posted by suzanmb ↑

I think we con expect a fair amount of bloviation from the Saudis , and OPEC on the whole , for quite a while yet , after all they have to save face . So a lot of volatility in O P , then up to another level , more consolidation , then an upward trend can begin . But on the other hand things could move fast , because 500ml bls in US storage is only 16 days consumption , but positive none the less .......

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I think you meant 26 days, as the daily usage in the USA atm is around 19.2 ml per day, still not a lot if supply is interrupted.

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MRM Price at posting: 31.5¢ Sentiment: Buy Disclosure: Held
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