Ambition is different than reality. OPEC has lost it's war against North American crude production and we are literally awash in supply. Even Bahrain has found new supply a bit closer to home. There is so much supply that up to this point geopolitical flash points like Korea and Syria and a rather serious proxy war between Iran and Israel have failed to excite. Right now oil is tied to the equity markets. If the Saudis can juice the global equity markets 19% or so then maybe they'll see $80 crude. The distillates are where all the action is at present with respect to the hydrocarbon markets.
Isn't it great? The US will soon be the largest producer if OPECRus keep up this nonsense. There're already rumors that Russia is cheating.
The headhunters in Houston and Singapore are searching high and low for physical Distillate Traders right now. That speaks volumes.