Oil price rally fades as OPEC’s plans overshadow U.S. stimulus
OPEC+ members are in a world of pain. They have suffered like crazy through 2020 and their financial position is sledgehammered. They have used every trick in the book (and quite some tricks that have not been in the book) to present an image of confidence and they still pretend that they are in some sort of open conflict with shale. The truth is that they can’t afford any such thing anymore. They need the money and they need it now so every faint straw of surging demand is grabbed with both hands. This is not over yet folks as shale has learned to live with sub-USD 50 oil. Have you?
www.worldoil.com 
