Hi Folks:
Here's one risky idea for those avid short sellers like me. I believe price should correct sharplhy after the announcement of SPR with some other countries to fight oil prices back as they are hurting massively global economies.
OPEC+ may counter act reducing their quotas even more so that could be the beginning of a new oil war that will end up badly for consumers.
My personal opinion is that OPEC+ is taking advantage of the oil losses and their economic crisis to recover quickly from it, but many global leaders are showing their anger and that could end up with some sort of sanctions in the future or some diplomatic tensions between all the parties involved.
It would be much wiser to open taps, reduce oil price and increase demand, and once the market is fully recovered then they can start again with their quotas. Any other solution is seen as a greedy cartel....
Cheers
UKOIL
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Here's one risky idea for those avid short sellers like me. I believe price should correct sharplhy after the announcement of SPR with some other countries to fight oil prices back as they are hurting massively global economies.
OPEC+ may counter act reducing their quotas even more so that could be the beginning of a new oil war that will end up badly for consumers.
My personal opinion is that OPEC+ is taking advantage of the oil losses and their economic crisis to recover quickly from it, but many global leaders are showing their anger and that could end up with some sort of sanctions in the future or some diplomatic tensions between all the parties involved.
It would be much wiser to open taps, reduce oil price and increase demand, and once the market is fully recovered then they can start again with their quotas. Any other solution is seen as a greedy cartel....
Cheers
UKOIL
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.
