A Disturbance in the Crude: Oil Prices Plummet as OPEC+ Increases Production!

The Force is Weak with Oil

I sense a great disturbance in the Force… and in the oil markets! U.S. crude oil futures have fallen to their lowest levels in four years. A pathetic display! It seems OPEC+ in their infinite…short sightedness has agreed to *increase* production for a second consecutive month. The incompetence is staggering. Losing $1.16 or 2% to close at $57.13 a barrel. This is the kind of weakness that invites rebellion! You have failed me for the last time OPEC+!

Another Fine Mess They've Gotten Into

Global benchmark Brent crude also fell. It's like watching Alderaan explode… but slower and with more financial paperwork. Prices are down about 20% this year. Do these OPEC+ fools not realize they are setting the stage for their own destruction? Their lack of vision is…disturbing.

Triple the Trouble Double the Fall

The eight producers led by Saudi Arabia plan to increase output by another 411,000 barrels per day in June. Triple Goldman Sachs' pathetic forecast. They are bringing over 800,000 bpd of additional supply to the market over two months. It is as if they are intentionally trying to flood the market! Perhaps I should pay them a visit and remind them of the power of the dark side…

Trump's Tariffs: A Trap!

The fools are so obsessed with increasing supply that they have failed to foresee the consequences of higher tariffs imposed by President Trump. These tariffs raise fears of a recession which would slow demand for oil. They walk into the trap like Jawas to a droid auction. Utterly predictable!

Goldman Sachs' Prophecy of Doom

Even Goldman Sachs those purveyors of…complicated financial instruments have acknowledged the dire situation. Their "key conviction" is that high spare capacity and high recession risk skew the risks to oil prices to the downside. I find their lack of faith…unsettling. They have cut their forecast for U.S. crude prices this year by $3 to $56 per barrel. A pittance!

The Circle is Now Complete

Oilfield service firms such as Baker Hughes and SLB are already expecting investment in exploration and production to decline. Chevron and Exxon reported lower first quarter earnings. The circle is now complete. Their arrogance has blinded them. This is the end for them. I will ensure that their fall is complete swift and… profitable. Perhaps I will invest in short positions. A brilliant idea.