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Originally Posted by OMG!WTF!
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Thanks for the link, great article and a real eye opener.
Some key points for me.
- U.S. crude production in 2018 to average 10 million barrels a day. this is 2x as much as 5 years ago, the record was 9.6 million in 1970.
- U.S. Imports from Saudi Arabia of Crude Oil sank from 1.362 million barrels a day to 615,000 barrels a day last week from a week earlier.
- Expecting lower US gas prices than last year for the "driving" season.
I'm not sure what's more likely, a $30.00 or a $60.00 barrel of Oil in 2017-18.