Nah, the markets are 'inspired' by the possible talks of easing production, but the Saudi's have absolutely no intention of easing production until the market is theirs again. I expect it to bottom out at $15-$20. Below that the infrastructure can't work correctly.
>>1075080 Saudi can't afford oil below 20$. Or is it 10$, /biz/? >>1075061 China doesn't need to import much oil because of the South China Sea, and Russia. Iran just flooded the market with their oil supply. No end sight until production goes down, which no one wants to do because there is a dickwaving contest at the moment.
>>1078372 The economy is doing poorly because of low priced energy.
Energy prices are similar to interest rates in that really high interest rates (Remember overnight prime at 19% in 1980???) are bad for all and really low interest rates mean economic things are really, really bad.
It's the same for the level of energy prices.
Airlines and SUV makers have done well recently. So there's that.
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