Thursday, May 26, 2016

"The (Oil) Freeze Is Finished" May 25, 2016
Why Did Saudi Arabia Kill OPEC?
"The OPEC meeting is only a week away, but the chances of a positive result are as remote as ever. Rising oil prices, the heightened rivalry between Saudi Arabia and Iran, and Saudi Arabia’s willingness to go it alone will make a deal all but impossible."

"In a once unthinkable development, Saudi Arabia is backing away from OPEC."

U.S. inventories (as of this week):