April 12, 2017
How do you get rid of an oil glut? How about a 104% solution? OPEC reportedly not only adhered to their agreed upon production cuts, but in March their compliance rate came in at an astounding 104%! Russia also vowed to be 100% complaint by the end of the month, shocking most of the OPEC watching world. This comes as Syria and North Korea are raising the geopolitical risk factors for oil. If that is not enough risk for you, then how about the news that the wild man with the dirty windbreaker jacket wants to make a comeback.