Thanks .... so pretty much the over supply has come about due to...

Thanks .... so pretty much the over supply has come about due to everyone jumping on the band wagon during high prices (from my understanding primarily US shale, but I stand to be corrected that point) and now everyone expects the likes of SA / Russia etc to drop production, can kind of understand why the are being so pig headed and keeping production up there. Would be interesting to know what %'s of production are from state run enterprises as opposed to private enterprise around the world if anyone knows. Ooops and correction I do hold not don't hold from original post. Cheers