Originally Posted by tzskipper1

Just random musings while we wait... My opinion; both oil production and consumption is a global and nearly zero sum game. If it makes anyone feel any better, China imports about 7 million barrels per year... Russia exports 5 million barrels per year. I know who I would bet on in buying Russian oil... Point being, if China shifts to Russia as their major supplier of crude, there will be a global shift, and the market will stabilize.

Long story short, the oil market will fix itself as it always has. Once the market makers have skimmed their share of profits. My guess is $80 oil by next fall.

Fun with numbers...

S