Rob Armstrong

You know what I mean?

Yeah.

But, you know, I think the central hypothesis remains sometime in the next couple of months.

They managed to get the straight open.

Oil never touches 150.

Yeah.

And we all breathe a big sigh of relief.

There is a right tail that is awful.

And we should talk about that.

But the central hypothesis, the most likely outcome, I think it's markets friendly, given everything else we know about the economy and what the market is doing now and so forth.

It is a very unpleasant sensation for a pundit.

Thank you very much.

All I can do is fall back on that old description of OPEC as the world's dumbest cartel.

Like their ability to organize themselves, to effectively control prices, to execute a long-term strategy is notoriously a bit ragged.

So my first guess, and it's just a guess, is that this is just another wheel coming off a car that is famous for throwing off wheels.

Yeah, I don't get it either.

But clearly, you know, and this when you talk to regional experts, this is the larger context is this kind of.

doom loop hypothesis that all the global structures are breaking down a little bit.

And the local story is that it's not a simple situation, a simple two-sided war.

Like all the parties to this war are pointed in slightly different directions.