The scene is set ...2.2 millions barrels cut with regards from OPEC and another 600.000 thoushand from the russians, now the games will start!!
Lets wait in see who actually manage to stick to the supposed cuts and who will cheat as soon as ... it's a waiting and numbers game !
Even like that the market went down after a bearish but not so bearish E.d report today , which showed a bigger then expected build in distillates and a good increase in stocks in olkaoma!!
I am bearish and will be until the foreseen future, or until see some compliance in the cuts or some good improvement in demand numbers!

contango in oil markets still to continue if the economic situation at all levels not just in terms of credit freeze don't improve, enormous premiuns o the contango will be kept, and the big oil companies and the oil traders will keep making millions until they run out of space or the oil prices start climbing with a vengeance at front of the curve.

This my attempt to create a blog where I can share with all of you interested in the oil and products derivated from, where the price of the barril of oil is going in the near future!