Crude Climb

Crude prices jumped 25% between 8/27/15 and 8/31/15, it’s best performance in decades! During that period OPEC said it would trim output if non-OPEC members would, data suggest US production in 6/15 was down to 9.3 million bbl/day its lowest level since 2/15, and the temporary closure of two Canadian facilities led to a production halt of unknown quantity. Unless non-OPEC member Russia cuts dramatically, Saudi Arabia won’t stop pumping.