Kezorm

Petrobras is Hoarding the World's Deep Sea Drillers

Regarding a correction to $110... it is possible that won't happen. Consider Goldman's prediction of a $141 barrel cost average for the 2nd half of the year. If Goldman sees the imbalance of supply and demand sufficient to drive the price that high, then there may be too much tension in the rope, so to speak, to enable a correction as deep as $110.