Make them pay!, page-151

A note from oilprice.com says US shale oil production is on track towards 5mbpd around half of peak production of 10mbpd. Rig count has plummeted so any pick up in production will be lagged. And the ruskies said they had reduced production in accordance with the OPEC+ plan to reduce by 10mbpd. Still a bit to go but at least we are heading in the right direction.This bodes well for a lift in POO as supply shrinks and demand increases. I'd like to see the demand numbers to see how opening up is affecting this. Production falling as demand surges is a recipe for success although there's a few floating and fixed storages that need to be emptied of surpluses. More than a few....