Sign in to follow this  
Followers 0
PP

Extension global cuts of oil during 2018!

Recommended Posts

We'll see. Some proverb about chickens and counting and hatching leaps to mind. 

Share this post


Link to post
Share on other sites

Although for the record I'd just like to say that I'm binge eating until a decision is made.

Share this post


Link to post
Share on other sites

OPEC +Russia + Non OPEC members - short history of the cut production deal

February 2016 price of oil fell to a low of $27 per barrel 
- September 2016 - agreed to the framework for a deal to cut production 
- January 2017 - The cuts officially began 
- May 2017 - extend the production cuts until March 2018
- November 2017 -  price of the US benchmark oil higher $58.95 per barrel 


What do you think how much will barrel cost in December 2017 after the meeting? How much will this retention of reduction reflect on oil price increase

Share this post


Link to post
Share on other sites

 I think the upside for oil is limited - markets have already priced in the extension - oil will hang around $60..

Share this post


Link to post
Share on other sites

as we expected:

https://www.reuters.com/article/us-opec-meeting/opec-allies-set-to-agree-oil-cut-extension-to-end-of-2018-idUSKBN1DU0WW?utm_campaign=trueAnthem:+Trending+Content&utm_content=5a1fcd4204d3010418476fb2&utm_medium=trueAnthem&utm_source=twitter

Some experts already told agencies that we could expect rise with $70 per barrel for Brent, if there is an unexpected interruption in supply

Share this post


Link to post
Share on other sites

Yeah. Question for million dolars:  Will it be tall spin for bulls or head spin for bears in oil today?:D

Share this post


Link to post
Share on other sites

Petar, will you elaborate on that please?

Share this post


Link to post
Share on other sites

Russia is still wildcard. Meeting still ongoing. So there is still a chance markets will be upset if Russia and NOPEC fail to jump on board the OPEC train. Prices are up a bit after OPEC said they had agreed, but nothing significant so far. I would certainly expect a rather uneventful oil price day, as TomTom said above, this is what the market has expected, and as such, already priced in.

 

Share this post


Link to post
Share on other sites

Dear Meanhvile:)  Usually on the Balkan we sometimes use quotes that many don't understand. The essence of my previous thesis can be related on OPEC which not only today, but long time in the past is effecting our everyday life, stock trade, transport and prices of products. OPEC has a black gold in its hands, and oil price could grow very fast. As I already said , only the sky is the limit if it continues like this.

Related image

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  
Followers 0