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

To: Goose94 who wrote (23612)	11/1/2016 4:15:59 PM
From: Goose94	Read Replies (1) \| Respond to of 203136

Crude oil: OPEC approves long-term strategy. While OPEC is struggling to ink a deal on production cuts, the cartel did manage to approve a document that outlines a long-term strategy. The pact puts forth a strategy to pursue price stability, which is to say intervening in the market to prop up prices. OPEC has been unable to agree to that strategy for quite a while because Saudi Arabia has been arguing since 2014 that the markets should determine oil prices. However, since the replacement of former oil minister Ali al-Naimi and the ascendancy of the Deputy Crown Prince Mohammed bin Salman as one of the kingdom’s most powerful officials, Saudi Arabia’s strategy has shifted. Of course, persistently low oil prices played their part in the Saudi about-face, but Saudi Arabia now backs a more assertive hand in the oil market. The strategy document argues for market management, but stops short of calling for individual country quotas. While OPEC seemingly wants to control prices, its members are still at odds over how to do so.