Has anyone ever suggested to these boneheads that a very small cut from everyone would bring the supply /consumption back into balance without affecting market share significantly. The world only needs to cut about 1 million barrels per day to do this. Or is this far to simple? Too many egos. It could be calculated as a percentage of each country's output to make it fair.
I still don't understand the point of having a few extra points of market share but take a 50% haircut in revenue.
SXY Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
