Eh, just more currency manipulation. Oil trade between world powers is clearly just a vector for inflationary war. The same economic war that the US and china have been waging since international shipping became cost effective. At the end of the day, all the worlds major players have generations worth of untapped oil on their land. When the US/russia/china all start digging new wells... Well that will be (imo) a good time to panic.

Why is anyone surprised by this? The oil glut isn't just about driving other oil companies out of business it is also about buying speculators out. They want to sell directly to refineries.

Now it's a waiting game to see if they cut production or the tankers and speculators have to sell first.