Quote:
Originally Posted by Slava
This is on the back of an apparent deal to cut production by 5%. At least that is what the Russians say the Saudis are proposing.
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This in itself would pretty much balance supply and demand.
That's not even taking into account the likely 3M barrels we're going to lose in N America alone this year.
Like I've been saying, the market has been very short sighted on this. We could easily be in a significant supply shortage in as short as 6 months