Lawrence Eagles
Lawrence Eagles
cut mexico million output russia talking
OPEC is now talking about a 1 to 1.5 million bpd cut and Mexico and Russia are at least talking about output cuts,
band below cause itself mechanism price shown slump waiting
OPEC has shown itself to be market-savvy by recognizing that waiting for the price band mechanism to kick-in could cause a slump well below $22 a barrel,
agreeing cut discuss february january likely meeting paranoia time
OPEC has a paranoia with oversupply, ... This weekend's meeting is likely to see OPEC agreeing to meet some time in January or February to discuss a cut in supply.
continue crude current feeling next physical prices surplus week
Our feeling is that with the current surplus of physical crude that prices will continue to erode from here for the next week or two.
agree feeling global impact net supplies
Our feeling is that OPEC will agree to the increase, but that the net impact on global supplies will be negligible.
circumstance consider far normal raising soon
Under normal circumstances, it would be far too soon for OPEC to consider raising production, but these are exceptional circumstances,
against attacks evidence former giving likely recently running short sponsor
Recently a former aid, giving evidence against him, said he was running short of funds. Therefore, if he was the instigator of the attacks on the US, another sponsor was likely to be involved.
driven due overnight price protests recovery security
Part of the recovery overnight (in the price of oil) may have been due to anti-Israeli protests in Jordan, where 30,000 protestors had to be driven back from the boarder by security forces,
imagine means price smart trigger un until
I would imagine they'll use their 20-day price trigger as the barometer, which means not until the end of June, by when we should know what the UN is doing with smart sanctions,
arabia believe further move prices reason word
Without any further word from Saudi Arabia about production, ... there is no reason to believe that we won't see prices move higher.
however itself shown stability
However in doing so it has also shown itself not to be a bastion of stability it had claimed, but a hawkish price-rigging organization.
breaks
If it breaks that we could see $370 an ounce,
hurricane market situation
The market has coped very well with the hurricane situation on the surface, particularly on the refinery side,