Agree on all counts.
Excellent analysis and summary.
Note that Saudi is doing this at HUGE cost - they are getting less total revenue with the increase - and are running a budget deficit at current oil prices.
Consider why this would be acceptable to the Saudis. ?? In return Trump cuts 3 million per day from World production by renewing ALL Iranian sanctions and gets Iranian production off the market. Maybe even leverage Venezuela the same way in removing the little dictator/terrorist there from office at the same time. ???
End result - the BIG drop in Oil Prices may be only temporary, BUT they won't go back up near as much as long as the Saudis keep up their end. Win-win for everybody.
And don't forget - WE NEED to refill the SPR which Brandon almost completely drained. That's a LOT of earl - 100-150 MMBOE.
Tough balancing act.
Russky production was never decreased - and can not be increased - they are at capacity, unless US embargoes all US production equipment from Russkies. They can't manufacture it themselves, and are heavily reliant on OUR production technology.
Finally, brethren, whatsoever things are true, whatsoever things are honest, whatsoever things are just, whatsoever things are pure, whatsoever things are lovely, whatsoever things are of good ...
| 
