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Noonehasthisusername

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Noonehasthisusername

Re: None

Tuesday, 12/09/2014 4:18:38 PM

Tuesday, December 09, 2014 4:18:38 PM

Post# of 41155
Noticed that North American oil producers are suspending drilling budgets for next year....drilling at these prices is not economically feasible for them and they answer to their shareholders and the execs want to keep their jobs and bonuses.

I don't think the MidEast OPEC members are doing the same... they continue to pump and refine as normal...

Mideast OPEC members will store crude until sometime next year when North American productions is at its lowest and many drillers have gone under or closed shop.

They will not sell it at $63.00.... more like $83 or $93... supply vs demand...

GLTA
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