#OOTT @AlexLawler100 @Rania_ElGamal
So the Saudis have added 160K, Russia bout 100K (ish). #OPEC
reuters.com/article/us-oil…
That concern is gaining some currency.
reuters.com/article/us-oil…
#OPEC #OOTT
As of most recently, #OPEC was still cutting supply by 2.26 mln bpd - ex-Libya/Nigeria. Add them back in, and they're down by approx 1.56 mln bpd.
reuters.com/article/us-usa…
The spread right now - that is, Texas oil to futures - is about $8-$9 a barrel.
So if you don't hedge it, you get screwed.
Another nice one from @AlexLawler100 and @Rania_ElGamal on this situation.
reuters.com/article/us-oil…
(and yeah, I know that's Pembleton below. Not a lot of Meldrick gifs.)