Oil bust inevitable

I also sent the same question to Mr Willie. His response:

cuz oil contracts face delivery

 
US Rig counts went down by a couple today. Prices up a bit because of it. It will be interesting to see if this becomes a weekly trend for awhile.
 
Big Oil wakes up to the threat of rising demand for electric cars

OPEC quintupled its forecast for sales of plug-in EVs, and oil producers from Exxon Mobil Corp. to BP Plc also revised up their outlooks in the past year, according to a study by Bloomberg New Energy Finance released on Friday. The London-based researcher expects those cars to reduce oil demand 8 million barrels by 2040, more than the current combined production of Iran and Iraq. 
BNEF expects electric cars to outsell gasoline and diesel models by 2040, reflecting a rapid decline in the cost of lithium-ion battery units that store power for the vehicles. It expects 530 million plug-in cars on the road by 2040, a third of worldwide total number of cars.
 
Can't remember if this was posted here or not.

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Dat oil drop again today, it never ends.
 
Futures "market" at work. With Phiz they take the opposite approach. 
 
You were pretty quiet last week.
I was gonna make a post like, just give it time, but only needed a few days. When they rally all I can think of anymore is "just give it a couple of days".

 
It will probably be in this range for awhile....until N Korea gets wiped.
 
Down again, who would had guessed?
 
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