Richard and John discuss what the current $16 price differential between WTI and Brent is telling us about the current oil market, and what the current $17 price differential between the May and July futures prices is telling us about the future oil market. Other topics addressed include:
How much oil is exported on a global basis?
How much US production is likely to be shut-in?
What type of US production will first come back into the market?
Ernest Hemingway and Charles Mackay