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Crude Economics
Russia Says Oil Freezing Plan Has Hit “Critical Mass”
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  • Jacksonian_Libertarian

    I think most everyone knows that every country that participates in this freeze will cheat at the first opportunity. Only a fool would bet on higher prices at this point, without solid evidence that the supply glut is over, and demand is draining the storage facilities. All of this is giving time to the American Shale Oil Developers to improve their tech, cut costs, and thereby lower their breakeven point which has been falling steadily since fracking’s inception.

  • GS

    “Has achieved a critical mass” is to be understood as the whole thing being about to blow in their faces any minute now. Run for the hills, upwind.

  • White Knight Leo

    Well, floating the proposal probably has effects in the futures market, simply because it might work in the short run. So at least a few investors might decide to hedge against rising oil prices, which might have the effect of raising oil prices now. Not much and no guarantees anyway, but that’s partly what trial balloons like this are for.

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