I hope when someone stumbles upon my blog they get to choose between a variety of topics Oklahoma related…not just on the Thunder. I do my blog in this manner because Oklahoma is such an unusual market for a major league sports franchise…and of course there’s no viable city newspaper in play any longer. I love Tramel, but one writer does not make a paper whole. It takes a group of writers with a joint passion and somewhat of a chip on their shoulders.
This oil production cut occurred last Thursday, but I didn’t want to post it because it was Easter week on my blog and unlike the Christian evangelicals… I was actually trying to cleanse myself somewhat and not be overly secular.
This cut is okay, but the basic play is still there’s way too much oil at the storage hubs to facilitate the prices staying up long as there’s no real increased consumption in play moving forward. Oil is still a net negative commodity.
This is just a first step in restoring the stabilization of oil.