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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (15853)	2/9/2016 3:15:23 PM
From: Goose94	Read Replies (1) \| Respond to of 203728

Crude oil below US$29.00 Oil prices slumped on Monday as news emerged from Riyadh that the meeting between Venezuela’s oil minister Eulogio del Pino did not succeed in bringing Saudi Arabia on board for an emergency OPEC meeting. Venezuela has been pleading with OPEC members to come together for a production cut, and has at least succeeded in generating some buzz. But thus far, the diplomacy of the country’s oil minister has not resulted in getting a meeting on the calendar. Saudi oil minister Ali al-Naimi said the meeting was “successful,” but in reality, the only thing the markets care about is whether or not OPEC will meet to cut production. In that sense, the meeting as not successful. “Nothing really happened at the meeting,” one OPEC official told WTI briefly below dipped below $30 per barrel on Monday following the news, before closing a few cents above $30.