OIL – RISES AND WHY:
OIL rises this week. The speculators are pushing the price up. Sovereign Wealth Funds in OIL are assuring oil prices rise as influence to the market in their side bet.
They all waited till the SUMMER PEAK markets when pull down of inventory was guaranteed in every year. So peak use of the peak period of the summer is here for 45 days. A pull down of inventory as expected and is seasonal. As this falls off and oil supplies RISE from:
- Opec Cheating and rising exports – trust me
- Lybia peace accord soaring their production
- Nigeria soaring production
- Non Opec rises in production
- Off set and add to oil supply against demand
- The glut will continue
The market is not rebalanced. Nor is the market rebalancing. The market is driven by FAKE NEWS fed by SOVEREIGN NATIONS and speculator PR firms being paid to entice massive investor return to go long on oil. Those who do will suffer a blood bath without a war. If there is war oil will go up of course.
If we hold on to peace and the Syria accord holds – Syria production will rise as well. Folks Oil supply is just off setting any pledge that Saudi MAY cut its exports by X. Saudi is in fact not going to loose any more of its clients and customers to the other suppliers in a THE MARKET SHARE WARS.
You will come to see this blog as prophetic as the world will have a bit higher oil price for a few weeks when BAM they will not as oil prices all again this fall.
We’ll see how I did on this one. The experts say I’m wrong which is 100% of the time. But then in the high 90% of the time – I’m right.
Its a fun table to play on – a 90% win table.
Berny Dohrmann – Keeping you in the WINNERS SEAT on OIL— July 26, 2017