Oil Demand Could Exceed Supply By End-May

Some still seem to think that they can tune the oil market. When all the evidence points to the contrary. I don’t expect the cuts to be as substantial as anybody expects. There will be significant cheating. Smaller OPEC producers and some other non-OPEC might prefer to have a little cash rather than none at all. The same might be true for Russia as the money situation there is not really rosy as well. I don’t think anyone thought that this stunt would misfire so badly so there is a lot of despair in the system. The market will come back and eventually, prices will go up again. But this will be a very, very messy affair, and as Poincare demonstrated, its impossible to make any accurate predictions in chaotic systems.

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