Why Did Crude Oil Futures Plummet Into Memorial Day Weekend

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  • #16752

    Crude oil futures plummeted almost $3 by Friday…



    [b]^^^ +1 … thank you …

    Q – why did oil futures plummet?
    A – it’s called NORTH DAKOTA (lol) & the great TAR SANDS of Canada (as fracking creates tremendous supply)[/b]


    Goldman Sachs with a note after Friday rout (they have been bullish)

    “The current level of the market deficit, the robustness of the demand backdrop, and the rising levels of disruptions all set the stage for inventories to fall further,”

    “risks to prices in the second half of 2018-2019 as skewed to further upside.”

    “historically, prices have declined after the announcement of OPEC production increases, however, when these occurred in a strong demand environment like today, prices were on average 8 percent higher than pre-announcement two months later.”

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