Time will tell here Billy.
OIL is in the balance at these levels.
It wants to test $30 but it keeps bouncing from the $34 a barrel level.
It just doesnt make sense for OIL to be below $30 a barrel. This will spell disaster for many oil producers who even at $40 a barrel are under the pump. Common sense will prevail here and OIL by mid year will be around $60 - $75 a barrel and everyone will be happy.
OPEC will take these cuts very seriously and they will be implemented.
It wont be long before we are reading that we have a shortage of OIL once again.
oil price oversold or what..., page-2
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