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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (37707)12/1/2017 2:17:34 PM
From: Goose94Read Replies (1) of 203317
 
Crude Oil: OPEC deal extended through 2018. The deal will run from January through to December, and the exact volumes of the production cuts will be the same as this year. The OPEC/non-OPEC coalition said that they would monitor market conditions and would remain “agile,” ready to respond if the fundamentals deviate significantly from expectations. They will revisit the agreement at the next official meeting in June 2018, but they assume the cuts will last through the end of the year. Russian officials pressed for details on an exit strategy heading into the meeting, but the group offered no information – Saudi oil minister Khalid al-Falih said it would be “premature” to do so. One notable change is that Libya and Nigeria agreed to cap their production levels at their 2017 average, which doesn’t necessarily curtail supply but will prevent any “surprise,” as witnessed this year. The Russian and Saudi oil ministers played up their unity and boasted about their strong relationship. All smiles from Vienna.

Goldman: Oil market volatility doesn’t make sense. Long-dated oil futures are more volatile than is justified, according to a research note from Goldman Sachs. The investment bank said that assurances from OPEC that the group will respond to market conditions should assuage concerns in the market about an unexpected rush of supply or, conversely, excessive tightening. The responsiveness of OPEC “leads us to reiterate our view that long-dated implied volatility remains too rich,” Goldman analysts wrote in the note published on Thursday.

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