Pavel + 384 PP November 28, 2017 Two days before the Vienna meeting members of OPEC and non-member Russia, by the Reuters, reached an agreement?! https://www.reuters.com/article/us-opec-meeting/opec-committee-backs-cut-extension-until-end-2018-with-june-review-idUSKBN1DS14Z?feedType=RSS&feedName=topNews&utm_source=twitter&utm_medium=Social Quote Share this post Link to post Share on other sites
Rodent + 1,424 November 28, 2017 We'll see. Some proverb about chickens and counting and hatching leaps to mind. Quote Share this post Link to post Share on other sites
Rodent + 1,424 November 28, 2017 Although for the record I'd just like to say that I'm binge eating until a decision is made. Quote Share this post Link to post Share on other sites
Petar + 76 PP November 29, 2017 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? Quote Share this post Link to post Share on other sites
TomTom + 183 November 29, 2017 I think the upside for oil is limited - markets have already priced in the extension - oil will hang around $60.. Quote Share this post Link to post Share on other sites
Pavel + 384 PP November 30, 2017 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 Quote Share this post Link to post Share on other sites
Petar + 76 PP November 30, 2017 Yeah. Question for million dolars: Will it be tall spin for bulls or head spin for bears in oil today? Quote Share this post Link to post Share on other sites
Meanwhile + 49 PT November 30, 2017 Petar, will you elaborate on that please? Quote Share this post Link to post Share on other sites
Rodent + 1,424 November 30, 2017 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. Quote Share this post Link to post Share on other sites
Petar + 76 PP November 30, 2017 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. Quote Share this post Link to post Share on other sites