Last Weeks production cut rumours showed the potential dynamics of a short covering rally. Most likely we will see the lows within the next few days before a significant correction will occur. It is unlikely that this will be a sustainable correction since the current oversupply is quite significant. For prices above 100 $ we first need to see the "dead-man-pumping" US-Shale defaulting first... 1Q16 data will show!
www.bloomberg.com/ne...restructuring-report
Chesapeake Energy about to file Chapter 11. Many to come... The bottom is near. Stay calm!