#oil - 4H
despite all the news of talks between US, Russia and Saudis to control the oil market.. and despite trump tweeting in full force in support of American companies in energy sector, we only had a small jump in price of crude.
After Saudis now Kuwait, UAE and Iraq are joining in on the oil war. Kuwait has announced they will start exporting 3.5M barrels starting in April which is a historic move for them.
I think for crude, we won't see anything more than ranging between $20 and $40 price for the rest of 2020 (and that's being optimistic!)
despite all the news of talks between US, Russia and Saudis to control the oil market.. and despite trump tweeting in full force in support of American companies in energy sector, we only had a small jump in price of crude.
After Saudis now Kuwait, UAE and Iraq are joining in on the oil war. Kuwait has announced they will start exporting 3.5M barrels starting in April which is a historic move for them.
I think for crude, we won't see anything more than ranging between $20 and $40 price for the rest of 2020 (and that's being optimistic!)
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