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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (5975)5/10/2004 2:36:44 PM
From: Wyätt Gwyön  Read Replies (3) of 116555
 
1.5 million bpd hike in OPEC output

i wonder what this means in practical terms of global supply. OPEC members are already producing 1.5 mbpd above their current official ceiling, so an official hike of the same amount merely "legalizes" the current situation. so to have an impact on supply, they will need members to continue to cheat by 1.5 mbpd, but at the new, higher ceiling. time will tell whether this capacity really exists.
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