/biz/ - Business & Finance

>>49820887
the SPR gets refilled every quarter. Its also only 714 million barrels, while the US consumed 20 million barrels/day. Its not a metric to gauge overall oil trends, its just a tool used to nibble away at supply when producers are pumping too much or supplement a little bit of demand when there isnt enough. also just because they let it get low doesnt mean there isnt oil,it often just means they are draining ahead of time because they anticipate an oil crash which will let them refill cheaper.

picrel and stuff.

>>49759264
there are enough rigs online that fair price should be $80 wti. youre going to end up holding the bag.
>t. took 60k in oil profits this year and am enjoying watching the dumpening