Monday, February 15, 2016

Why Oil could trade between $27 - $47 longer term

You hear talk about the Russians wanting to reduce supply. They can’t possibly because a good three-quarters of where they produce their oil is in very cold areas in Siberia. They don’t have those pipes insulated, they have to continue to pump crude oil through there. The Iranians and the Saudis hate each other. They have, for lack of a better term, a war going on — a gas price war. They’re not going to let go.