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Got longs from 73 yesterday that I thought would have been stopped here. Now I'm just gonna raise my SL to a comfortable level to save some profit and see.
Well, here we are - finally. The first real pivot point in 18 months. Me - I am sitting on the fence waiting. Going to be interesting to see how the Saudis are gonna solve this one.
The fourth OPEC and non-OPEC Ministerial Meeting will have the same time frames for the opening session and closed-session meeting. The joint press conference will be held at 1 p.m. local time (vienna), or 7 a.m. Eastern time.
The fourth OPEC and non-OPEC Ministerial Meeting will have the same time frames for the opening session and closed-session meeting. The joint press conference will be held at 1 p.m. local time, or 7 a.m. Eastern.
Gijs van de Ven which producers don't need. so they will get what they want but they will play it carefully so as to avoid sharp moves (not $3 daily volatility kind of moves)
"We need to release supply to the market," * Saudi Arabian Energy Minister Khalid al-Falih told reporters in Vienna. "How much oil do we need? ... around 1 million (barrels per day, bpd) probably." *.Falih said the oil market had now rebalanced and his aim was to prevent a shortage of crude in future that could squeeze the market..* We estimate that OPEC & its non-OPEC allies need to increase output by 0.7-1.2m b/d in CY19 assuming Iran & Venezuela production loss at 1.0-1.5m b/d. Saudi is talking of ~1m b/d production increase. * .* OPEC & its allies may need to increase production even more than 0.7-1.2m b/d if Libyan production loss of 0.45m b/d, which markets appear to be ignoring, continues. *
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