Oil: Today’s Upside Sowing the Seeds of Tomorrow’s New Lows

The 2-year old aggressive market-share price war by the Saudis led the necessity to squeeze costs for alternative energy producers around the world. Critically, US shale frackers managed to notably decrease breakeven costs per barrel; for some shale types down to $29 from $59 in 2014, according to consultancy Rystad Energy. Nietzsche said it eloquently: “That…