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Gold/Mining/Energy : Big Dog's Boom Boom Room
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dvdw©
To: elmatador who wrote (197582)3/9/2017 1:05:27 PM
From: Salt'n'Peppa1 Recommendation  Read Replies (1) of 206209
 
Add to that the 1 million b/d that Iran and Iraq are adding and you get the global glut picture.
Libya and Nigeria have basically no output at present, but lots of room to grow.
Crude has no business being above $50 at this time.

Saudi Arabia cannot cut production again in June. Their domestic needs skyrocket in summer. They could extend existing cuts, but that will hurt too.
Bills need to be paid. The Saudi population that is largely government funded needs to be paid.
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