You get the idea. This an up-the-down escalator dynamic (that was the punchline from the post linked here at the outset). OPEC cuts, prices rise, U.S. production rises, prices are capped, prices fall, uneconomic producers remain alive (zombie style) thanks to wide-open capital markets, prices rise again, U.S. production rises again, and around we go….
Central Bank Money Printers And The Global Oil Yo-Yo
