The spread between Brent Crude and WTI crude needs a wider spread so that exporting is profitable..I believe WTI will stay in the 90's..Also if the Oil Cartels need more money they just need tighten supply.
Let's see, if one sells a million barrels at $95 they take in $95 million. If they sell 900,000 barrels at $100 they take in $90 million. Oops, your math does not work. And guess what, they cheat as they need the money. So a few exporters cut production and others cheat to take advantage of their ability to make more money. Dont bet a dime on the oil cartels actually cutting total production to keep prices up. Otherwise plan on oil falling. Many of the smart money folks are saying $85. Who knows.
It'll be a big miss for last quarter and another miss for the next quarter! North Dakota has been a frozen tundra according to a friend that lives in Ray, ND (near Williston and is in the oil patch). There have been many many sub zero degree days as well as road shut downs. They can't frack when it's well below zero degrees and they can't haul when they can't see the road or if the diesel fuel gels up in their trucks! We will see $9s before the quarter report, IMO.