Transocean Ltd. (RIG)

[ogbull]

It does not make sense for the Saudis to protect market share below $50 for brent crude. No one can take market share away from them with cheaper priced sweet crude. $50 sweet crude puts 50% of all producers out of business.

In fact, the smart thing for other producers to do is cut production themselves to keep crude at $50 and let the Saudis grab all the market share they want to bite off. It will bring closer the day when Saudis reach peak oil.

Why would the Saudis run crude down to $30 when $50 is enough to protect their market share?

The Saudis are like a bunch of drunken sailors on pay day. They are spending like crazy on luxury. They would screw themselves to sell any oil below $50.

Crude has bottomed here!