Citi VelocityShares 3x Long Crude Oil S&P ETN (UWT)

[longymickshort]

That was after the run up over 100bbl .. Fundamentals tend to reassert themselves. What followed after was lots of red ink and a global oil glut 2 yrs later. What we are looking at now is an attempt to control the price and keep it artificially inflated by capping production. When the price cracks the non OPEC producers are going to start pumping because they are now hedged higher in anticipation of the seasonal decline in demand. The Russians and OPEC are also notorious cheaters when it comes to sticking to their caps just saying.