US producers simply don’t play along with OPEC and Russia.
“Knowing that something could be bad for you is not always a barrier when temptation rears its head.”
Oil Soars as Saudi Energy Minister Uses Oldest Trick: Talking his Book.
Global demand is the main concern right now.
I take the huge demand for dollars and safe sovereign debt as a warning.
The upside for oil is extremely limited.
Panic seems like a strong word, but….