| In one month, oil prices soared $15 a barrel during a season when historical prices tend towards weakness. This at the same time that criticism of shale producers for wasting money is in the headlines, as well as suggestions that the current price is roughly enough to cause a drilling turn around.
Given the weakness in the upstream sector, this is as welcome as a rope to a man in quicksand. The price bears who thought rising inventories would mean continuing weakness, with prices as low as $20, are eating crow, but that’s a regular menu item for bulls and bears in this business...............................................Full Article: Source
|