Quotes from the news wire:
People are surprised by how quickly the U.S. is shutting in production and that's exactly what we need in order to support prices, there's another 10 days before the June contract expires ... if the WTI contract can avoid a crash going into expiry, hopefully we've seen the bottom.
Found on Reuters 3 years ago
If there is a time for the U.S. to be able to take a hard line it is now, with the Saudis having over 2 million barrels (per day) of spare capacity.
Found on Reuters 4 years ago
(Oil inventory) is tight and the U.S. will probably tighten sanctions on Venezuela which will make the Venezuela situation worse and which means we can expect continued falling Venezuelan production, combined with expectations for falling Iranian production as the U.S. pressures allies to reduce their imports, this will push crude oil prices up to $80 a barrel and we think it can go higher.
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