Crude spiking 3%, Russia should definitely join the OPEC cuts now. Venezuela and Libya are still mostly offline and yes the Iran waivers are only temporary. Goldman is sticking with their $75 target for early 2019.
if you stay patient, this will pay BIG. I'm assuming we'll get production cuts out of the middle east and maybe even Russia. And once the traders start to factor in the expiration of the Iran waivers, crude will be back up to $70-80, which will put UWT around $50 ($18 now) Re: Crude oil up 5%. Goldman sticking with $75 target.