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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (50934)	10/26/2018 3:31:20 PM
From: Goose94	Read Replies (2) of 202925

Crude Oil: suffered steep losses this week on renewed fears that the supply surplus might make a comeback. The fears of $100 oil seem long gone. OPEC suggested that it might need to cut output in 2019 to avoid a return of the supply glut. There are some mixed messages coming from the cartel. Earlier this week, Saudi oil minister Khalid al-Falih said that the group was in “produce as much as you can mode.” But a technical committee offering recommendations to the OPEC+ group said that it would prepare “options” for production plans in 2019 to avoid a glut. Even as OPEC wonders whether or not it should cut output, the IEA pressed the cartel to increase production. “Global oil markets are going through a very sensitive period -- global economic growth as well,” IEA Executive Director Fatih Birol said in a Bloomberg interview on Thursday. “If the oil producers care about the health of the growth of the global economy, which I believe they do, they should take the steps to further comfort the market.”

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