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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (82042)	4/10/2020 8:42:37 PM
From: teevee	Respond to of 203382

It is kabuki theatre. Global producers have no choice but to cut production because storage is near full. Some reports suggest as much as 30mm b/d must be cut to balance production with demand. Producters have to cut before storage is filled or then what? Dump it on the ground or in the water? Refinery storage of refined product is near full and they are cutting back too. OPEC 10mm b/d cuts don't start until May 01st, so they have about 3 weeks to shut in about 20mm b/d world wide.