Coopec, He may also be long? In fact isn't that likely?
This report is suggesting that the surplus is more like 1.7M - 2.5M BPD.
US production increased 1M BPD on its own in 2014 & then Russia & others are producing more.
Demand is pretty stagnant, so the numbers you suggest don't stack up.
http://www.thenational.ae/business/energy/what-to-do-about-all-that-surplus-oil
It was a nice move but its giving some of it back now.
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$7.69 |
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
5 | 32086 | $7.68 |
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Price($) | Vol. | No. |
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View Market Depth
No. | Vol. | Price($) |
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1 | 259 | 7.660 |
2 | 7500 | 7.650 |
2 | 10656 | 7.620 |
1 | 22000 | 7.610 |
Price($) | Vol. | No. |
---|---|---|
7.740 | 510 | 1 |
7.750 | 2000 | 1 |
7.770 | 655 | 1 |
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7.800 | 14072 | 12 |
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