This is a long-term cyclical downtrend, it's going to take a while for prices to fall low enough to cut off that excess production. Walter Zimmerman More Quotes by Walter Zimmerman More Quotes From Walter Zimmerman You have the threat that a high enough price will start to activate the 7,700 drilled but uncompleted wells in the lower 48 states, and meanwhile, if Iranian crude is really taken off the water, it's going to impact Brent much more than it's going to impact WTI. Walter Zimmerman company-news
