Sep 21 2016, 12:59 AM
QUOTE(AVFAN @ Sep 20 2016, 11:45 PM)
really, almost all opec is at full capacity. so, a "freeze" is rather meaningless.
production cut... will have a temp effect after which shale and non-opec will pump more as soon as prices rise.
the fundamental issue is there IS plenty of sources now, no monopoly like before.
i think the days of the mighty petro$ are over.
for us, small time traders, it will be just just another commodity... eventually.
Yes that is true.production cut... will have a temp effect after which shale and non-opec will pump more as soon as prices rise.
the fundamental issue is there IS plenty of sources now, no monopoly like before.
i think the days of the mighty petro$ are over.
for us, small time traders, it will be just just another commodity... eventually.
I still think US is going to be the swing play because shale is slowly showing the negative side effects to the environment so they may have too start slowing down production.
OPEC does not work till Iran comes to the table which may take a while since they want around 4mil barrels.
The days of mighty oil and monopoly is probably over unless they start working together instead of only releasing headlines.
Yeah, oil looks like it is becoming just another commodity just like the boom and bust of steel and copper.
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