Oil Flows in the Streets

Submitted by Chris Ducret on Sun, 03/08/2020 - 03:47
Chris Ducret

Great news for the consumer. Gas prices will be coming down faster starting on Monday. Russia and Saudi Arabia are having a little fight after Russia left the OPEC+ meeting not agreeing to cuts.  Saudi's reaction, flood the market and under cut everyone, hopefully putting them out of business and wanting to talk again.

Right now, BRENT moving to $30/brl range and could be in the $20s/$10s quickly.  Will the US step up with a bailout for the US oil producers?  Don't  need more pressure on WTI and shale producers that are heavily leveraged. For the consumer a good time to fill up will be in the coming week.