The smartest guys in the room, claim the fatest profits, ahead of the matrix......
these guys depicted by the production numbers, never got the princton professors memos....they just kept on pumping and selling more oil at higher prices. Meanwhile so many others held back or failed to meet the opportunity squarely....believing instead that the Contrivance Function would make them even more money in the weeks and months ahead.... they leased tankers to hold the stuff that soon , nobody will buy at the prices needed due to the added costs...of storage.
opps....is about all there is to say, now that we know, none of that is not going to work out....
so lets just review the right plan / path to take, when a commodity price is a contrivance...follow this prescription.
Oil output in April by the Organization of Petroleum Exporting Countries climbed to the highest level in more than three years, a Bloomberg survey showed. Production increased 305,000 barrels, or 1 percent, to an average 31.405 million barrels a day from a revised 31.1 million in March, according to the survey of oil companies, producers and analysts. Output rose to the highest level since October 2008.
Saudi Arabia, OPEC’s biggest producer, bolstered output by 115,000 barrels a day to 9.82 million this month. The gain left production at the highest level since August. |
