1-use to be able to count on opec to cut and support prices,not happening
2-global economy use to be robust with growth and demand,not happening
3-there was no shale revolution supply
4-NA storage 500 million plus at over 2/3rd capacity
estimate till full june.
-may/will come down to transportation and production costs
-ballpark numbers 500 million barrels=50 day supply,call a shut in import deficit 1 million barrels=500 days inventory
-could get worse before it gets better
2-global economy use to be robust with growth and demand,not happening
3-there was no shale revolution supply
4-NA storage 500 million plus at over 2/3rd capacity
estimate till full june.
-may/will come down to transportation and production costs
-ballpark numbers 500 million barrels=50 day supply,call a shut in import deficit 1 million barrels=500 days inventory
-could get worse before it gets better