Quote:
Originally Posted by Ducay
Everytime I see the thread title and actually read it, I die a little inside. "Wait, we thought $77 was a bad price?". Feels like ages ago that was the case, not 2-3 months.
Can someone please fly to Saudi or Iran and just stir some sh** up? I don't know if this cold war of words is going to do much. We need some serious action and Iran to get angry and try blocking the Straight of Hormuz or something.
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If you want to talk to anyone about oversupply talk to the US and their ~66% growth of oil production in 3 years. Depending on the source SA is around 20% increase in the same period and again depending on the source Iran has had a 30% decrease in production. Mind you they want sanctions lifted so they could bring production from ~3m BPD to over 6m BPD so if up to Iran they would not be an innocent bystander in this if they had their way.