OPEC Cancels Press Conference

[Tom Kirkman + 8,860]

16 minutes ago, Illurion said:

So,  i am standing pat.

 

 

[Illurion + 894]

12 minutes ago, Tom Kirkman said:

 

 

Quote

I see that you ended that thread with the posted conclusion:

"At this point, with expectations of some sort of action largely priced in, inaction would likely drag prices down much farther. As such, it seems highly unlikely that OPEC+ will do nothing."

So you are thinking they MUST do something,  because to do nothing would cause the price to drop further.!

I don't think so,  as i don't think the US Producers want to go any less.

I think the market is "temporarily" stable at the current levels until some "EVENT" occurs that would open an opportunity to respond in some way.

So i am still standing pat.

Edited December 7, 2018 by Illurion

[Rodent + 1,424]

DEAL REACHED !! 

Russia cut = 200,000 bpd

Iran, Libya, Venezuela get special dispensation

specific country quotas will NOT be disclosed

[Illurion + 894]

2 minutes ago, Rodent said:

DEAL REACHED !! 

Russia cut = 200,000 bpd

Iran, Libya, Venezuela get special dispensation

specific country quotas will NOT be disclosed

Looks like i lose.

But will this change anything ?

Will the price be higher 72 hours from now ?

I don't think so.

This is all for show.

[Dan Warnick + 6,100]

29 minutes ago, Illurion said:

Looks like i lose.

But will this change anything ?

Will the price be higher 72 hours from now ?

I don't think so.

This is all for show.

"The show" is what speculation is all about.  There will be more factors to add to this official statement; some overt/some covert.  The goal of increasing the price is a goal the actors in OPEC take seriously, IMHO, and they will take actions to achieve their goal.