Providence Resources - Wait till October - Believe That things will change...

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12:22 07/09/2015

Believe That things will change from October onwards. Banks will decide on credit lines to Frackers in October. This is based on the value of a barrel of oil. Obviously the lower the price of a barrel of oil the worse it will be for Frackers. Thus Saudi Arabia and Kuwait sovereign wealth funds are shorting oil futures deliberately and thus Keeping oil price artificially low. Once Frackers are delivered blow in October expect oil price to recover as Saudi and Kuwaiti Sovereign wealth funds cover their short positions in futures markets ahead of December OPEC meeting

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