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

To: Goose94 who wrote (24388)	1/9/2017 8:11:29 PM
From: Goose94	Read Replies (1) \| Respond to of 203376

Crude oil: Josef Schachter: We believe that there is excessive optimism about the OPEC deal and that as compliance issues become evident over the coming months, the assumption of a balance between supply and demand for crude oil in the first half of 2017 will prove false. If crude and supply stocks begin to grow after peak winter demand is over in February, then the price of crude will decline. How low the price will go will depend on the U.S. lowering 48 shale production growth, China’s purchases of crude for their Strategic Reserve, the growth in production from Libya and Nigeria (non-quota members of OPEC deal) and how much excess production (cheating) there is by Iran and Iraq. A decline below US$40 is expected, but if all the negative domino’s fall into place then a bust below US$30/barrel is possible in Q2/17.