Play The Extremes On Oil

OPEC reported that output fell by almost 800,000 bpd in January to 30.81 million bpd.  On Tuesday, Saudi Energy minister Khalid al-Falih said production would fall below 10 million bpd in March, more than half a million bpd below the target it agreed to.

Meanwhile, two weeks ago the U.S. Energy Information Administration (EIA) said Record-breaking U.S. oil production is expected to continue for decades.  For example, Texas’s oil production hit a record level not seen since 1973. Texas oil wells produced more than 1.54 billion barrels of crude in 2018.  If Texas was a country production it would be the

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