So, we wanted to get on the record before OPEC makes their decision.

It seems like everyone is expecting them to cut supply deeply.  I would expect them to cut at least by the amount that is backing up in their ports and storage facilities because no one is buying.  What is that actual number?  I bet it is huge.  Demand destruction is still happening.

Now, whatever number it ends up being, only stupidity would cause them to cut by more than their current sales rate.  Did oil falling from $147 to $43 not teach you anything?

If it did not, then let's go through this exercise one more time.  Please cut oil by millions of barrels.  China and the USA will then use even LESS oil.  Demand destruction will start again, and we will have $12 oil.  Nice.  Just what we need.

If the world was smart, and got along with each other, we would do this a little differently.  Let's keep oil around $50 a barrel, and let's slowly repair consumer demand over the next 18 months.  Then their sales rates can start to grow again, and all economies can slowly trek back to health. 

Alas, everyone wants the quick fix.  They are probably trying to send a psychological message to the market and manipulate prices back up in the short term.  Humpty Dumpty....

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