| Oil rising to $60 a barrel is displeasing some people, particularly the shorts. Some of the more extreme -- those calling for oil in the $20's – have wisely fallen silent. Others, like Goldman Sachs, who a few months ago had set their flag in the 30's, have unfortunately not gone so silent. They recently moved their flag into the 40's but they continue to talk a lot. A better strategy – though one that would require some humility — would be to stop talking and listen.
Recent and compounding data will soon wash away the walls of worry erected by the experts. Four consecutive weeks of inventory draws, each one larger than the last is irrefutable proof that a 60% decline in the rig count means something...............................................Full Article: Source
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