Replies to post #251 on Citi VelocityShares 3x Long Crude Oil S&P ETN (UWT)

[fitzwell11]

Exactly right. SA wants to IPO Aramco in 2019, pretty hard to maximize its value with oil at $30 vs $65. SA and Russia refused to step in during 2014, the fact they were already scrambling and teaming up at the first sight of $50 oil says a lot.

Let’s not forget too that Venezuela will also never return to 2014 production levels. They are done for.