In Reply to: Two birds, one stone posted by SagoBob on May 29, 2025 at 15:16:41
> So you're saying that US shale producers are collateral damage in the oil patch.
Pretty much.
Producers like Iraq, Russia, and Kazakhstan are above their OPEC+ targets, so SA decided to punish them by flooding oil on the market.
Add the global recession initiated by the Trump tariffs, you've got oil prices plummeting.