Sunday, March 29, 2015

Is The Worst Over for Crude Oil?

The US asked Saudi Arabia to dump crude oil, which added pressure on Iran and Russia. So, the fall in crude prices is more political than economic while US crude supplies have gone up. Everywhere around the world, crude reserves have gone down and I don't know till when these artificial supplies of crude will continue. Now, if Iran and Russia come to a deal with the West, crude prices will start going up. Crude prices have to do more with the global political development than anything else.

- Jim Rogers via a recent ET interview