VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[THREE-DAY-TRADER]

Local production in the USA has peaked in 2015 and has since dropped.
The pressure has been hard on Oil producers in the USA as a whole.
That's the top goal of the Saudis, RUSSIA and overall OPEC, and from that point of view of generalized facts above, it has been successful.
It's just that simple

Saudi's goal is to break down American oil and keep their market share until the next Oil price boom, and so far that has been achieved, but still in mid-process, however.


US Crude Oil production peaked in June 2015:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFPUS2&f=W


{FYI: US Oil production is not same as weekly total supply-inventory numbers--- for anyone who may be confused by the 2 as the same}