As long as crude is bidding for storage, as long as there's an abundance of crude — and there is an abundance of crude — as long as the Saudis continue to say we're going to defend our market share, any bounces that you get will be short term.
End of OPEC influence on oil prices ?
OPEC, really, for all intents and purposes is now just a visit to Vienna. They've said to the free market, you price this stuff, we have lost our capability.
