A topping pattern on crudeoil? Or simply finding support at a long-term trendline before a move higher? This one needs to be watched closely
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The President-elect said he told the EU they must "make up their tremendous deficit" with large scale purchases of American fuel The US is the world's top LNG exporter, and the biggest Oil producer. Source: Stephen Stapczynsk
Since then, Saudi's market share has been on slow but steady decline, punctuated only briefly by steep price drops in 2015-6 and 2020. How can Saudi regain market share? Either they maintain a $60+ price and see their market share continue to erode, or they increase production to reclaim market share, and see prices plummet. Either way, it's lower revenue in the short term. Should they pump more to decrease prices and regain market shares? Taking the market to <$40 again will be painful for them in the near-term, but they have the financial wherewithal to survive. Source: John Arnold on X
Source: Mason Hamilton, API