The prevailing conventional “wisdom” appears to be that they will take their medicine one more time, and agree to at least extend their agreement through the end of 2019, and possibly make further cuts to their export levels. One thing is certain: The U.S. industry, which has benefited greatly from the OPEC+ agreement, is holding its collective breath hoping that does happen. Because if it doesn’t, this great oil boom of the past few years could turn into another bust almost overnight. @ forbes.com
Just in case you aren’t thinking about it yet.
Crude oil prices could plunge lower
Saudi Arabia has restored half of the crude product that was lost to devastating attacks on its oil industry, and the kingdom said output will be fully restored by the end of this month.
If we don’t see any new drone attackS on Saudi oil infrastructure we could see Crude oil prices going even lower. Before the oil attacks against Saudi oil infrastructure, the Crude oil prices were already heading lower.