paul sankey joins us now with sankey research, some of the most read notes on the street.o 1986, opec absolutely blew it with a price plunge. can we get a redux on that, particularly with new american production of oil? paul: it is not elected six. and by -- not to 1986. and by the way it is a pump check. 1986 is not the right one. that is when opec increased into the asian financial crisis and that is the opposite here. what we have here is the 2014 -- probably not 2020 but when saudi flushed the market because they got frustrated with cutting back and cutting back production to maintain prices, such as 2014. they were losing marketshare to iran which was coming back through sanctions. you had to growth in u.s. production which was squeezing saudi. they cannot get the rest of opec to agree with them. they flushed the market. we went in a straight line from 110 in the summer to 50 by 2015. in six months we have cut in half and bottomed again. i don't think covid, between 20 marketshare which was more extreme, saudi at any all-time high production which was in april 2020 wh