Well it seems to be stabilizig in this 46-47 area.
An oil analyst on Bloomberg TV, is putting premium in crude price as about 2-3dollars.
He noted that global demand increased 2x production's ability to keep equal.
That the shock that the industry has been wrong about their ability to match increased demand is sinking in now.
Saudi's can't announce anymore the price of crude is being caused by wild speculation and that there actually is an actual surplus of supply.
This being what they were doing as price of crude kept going up.
Saudi's problem is if they keep pumping as fast as they can the lifespan of S.A. reserves will start dropping to, what i think, would be worrisome levels.
I guess then the Royal Family, at the "we are dry" point, will exit Saudi Arabia to be located with where their mountainous hoards of money be and leaving a note to its populace "Eat Sand!"
Yes, i do detest the S.A. Royal Family.
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