POO in the POO, page-62

Apparently the new Saudi Minister says...sell all the oil you can before the electric car..........

Oil prices have returned to the spotlight after changes at the top in Saudi Arabia, a fire spreading through a key producing region in Canada and fresh figures that showed an increase in stockpiles.
Crude prices dropped in today’s trade after data showed a build-up of inventory at the delivery hub in Cushing, Oklahoma.
Traders were also considering the fallout from a fire that tore through Alberta, Canada, forcing tens of thousands of residents to evacuate. Nearby oil sands operations were closed, which gave oil prices a boost last week as output fell. But now officials are saying the operations are not damaged, only closed as a safety measure.
Saudi Arabia’s recent move to replace its oil minister is also at the front of mind, with the key oil producing nation now seen as less likely to support a deal with other countries to freeze output.
US Nymex crude fell 2.7 per cent to $US43.33 a barrel, while global benchmark Brent crude lost 3.9 per cent to $US43.59