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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: russwinter who wrote (36668)12/3/2004 8:05:29 AM
From: Ed Ajootian  Read Replies (2) of 206161
 
Russ, great post, I believe next week's OPEC meeting results will be a huge clue regarding whether OPEC really has been straining their production capabilities or not.

If OPEC agrees to reduce production quotas or to further enforce present quotas, this IMO would be tantamount to admitting that they really have been producing at surge capacity.

If OPEC does not make any changes, this would be a clue that they have not been producing at surge capacity, and that they are comfortable maintaining production at current levels even in spite of the recently lowered oil prices.
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