thought I'd throw something in. I just recently joined Twitter (last wk) and according to some really fundamental type oil analysts in the UK
, they said their figures don't make sense. Iran and Iraq - production and storage is NOT as much as they claimed to produce, from storage reports and exports,
tankers, etc. Same goes for Russia. Apparently no one is producing as much oil as they openly claim.
True or not, I dunno.
But in light of all the media push last yr and this yr, oil 'should' have dropped below 40 and on down to 25-30.
It has not. Maybe something to consider. Time will tell.