Thursday, July 2, 2015

Houston, We Have A Fucking Problem...Oil Primed For Collapse

This just in:

In a high fixed cost industry, marginal producers will continue to produce even at an overall loss.

If only to forestall bankruptcy for a few, more, months...

Now that every storage tank in the Western hemisphere has been filled, prices can find the true floor unsupported by the futures market...

U.S. daily oil production ('000 bbl/day) (red) 
w/U.S. oil price

Oil stocks with oil: Ratio lower pane