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[littlejohn]

Saudi Arabia said Greedy Speculators drove oil

price up in 2022, and that the oil

market was well supplied...

Every country was selling all the

oil the world Wanted...

Saudi Arabia wants $80/bbl to $85/bbl

Brent pricing for oil...

Most companies around the globe need

a higher price to justify higher drilling costs...


Flash forward to 2023...

Oil demand is higher than in 2022...

Saudi Arabia says that Shorts in Oil

price are keeping price too low

by a scheme they are running...

Big money in oil price controls and

sets the oil price...

This article link shows graph where

SA was exporting about same amount

of oil a year ago, but those exports started

falling in May, 2022 as China started buying

less oil due to rising price...

https://hfir.substack.com/p/the-saudi-put?r=f2v8q&utm_medium=ios&utm_campaign=post

Greedy speculators who controlled oil

price in 2022 pushed it way up after

demand fall started in May, 2022...

And now they have pushed prices

down twice in 2023 with world oil

demand rising,,,

and U.S. fuel demand has averaged

over 2% increase over year ago

since March of 2023,,,

Two dumps on oil price since March...

Critics try to imply that Saudi Arabia

acts alone,

but that is far from true...

When other Opec countries and outside

oil companies see pressure to push the

oil price back up, they will hold back

on sales when possible and will tighten

the noose on the Big Oil Shorts...

Count on that like Peter Wrote it On

The Rock...

All this haggling by big money over a

simple $80 Brent price target...

Who is anyone gonna call in August

if a big hurricane plows into gulf...

Oil Shorts have unlisted numbers...


So we watch...LJ