The Eagles
The Eagles
The Eagles were an American rock band formed in Los Angeles in 1971 by Glenn Frey, Don Henley, Bernie Leadon, and Randy Meisner. With five number-one singles, six Grammy Awards, five American Music Awards, and six number one albums, the Eagles were one of the most successful musical acts of the 1970s. At the end of the 20th century, two of their albums, Their Greatest Hitsand Hotel California, were ranked among the 20 best-selling albums in the United States according...
clear east far market middle premium remain situation strong until
As far as the Middle East is concerned, there is still strong justification for a premium to remain in the market until it is clear the situation is much calmer on the ground,
attack eastern fashion fear lose middle remains respond small support
The U.S. will respond to this attack in some fashion and there remains a small fear that it may lose some Middle Eastern support as a result.
iraqi looking month
So we could be looking at at least a month without Iraqi oil.
china demand growth last strong within
Demand is still strong within China but growth was exceptionally strong last year. That year-on-year growth is narrower is not a surprise.
dangerous follow game playing prepared
OPEC is playing a dangerous game of bluff, and has to be prepared to follow it through.
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.
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,
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.
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,
caution clearly collapse currently early given main next oil paranoia price pumping threatens
Given the paranoia of the cartel that it is currently pumping too much oil and that this threatens a price collapse early next year, caution will clearly be the main watchword.