Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Goose94 who wrote (37041)	11/14/2017 3:35:52 PM
From: Goose94	Read Replies (1) \| Respond to of 203329

Crude Oil: OPEC production fell 151,000 bpd in October. OPEC continued to report “high conformity levels” in October, with output dipping by 151,000 bpd from a month earlier. The data provides a strong bit of momentum heading into the cartel’s official meeting on November 30, a summit that most analysts believe will produce an extension of the current production cuts for as long as another year. In OPEC’s monthly report, the group cited falling global inventories as a sign that the production cuts have been a success. OPEC cuts “only viable option.” OPEC’s Secretary-General Mohammad Barkindo said that extending the production cuts is the “only viable option” to restore the group’s credibility. There are few signs of an outcome other than an extension at this point. Last week, OPEC raised its forecast for demand for OPEC crude in 2018 by 400,000 bpd, which would imply a sharper drawdown in stocks. “We are seeing clear indications that the market is re-balancing at an accelerating pace and stability is steadily returning,” Barkindo said. “I am certain that if we had not mobilized ourselves when we did, building consensus and jointly taking action in responding to the crisis, the industry would be in worse condition than it is today.”