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

To: Goose94 who wrote (37198)	11/17/2017 3:33:26 PM
From: Goose94	Read Replies (1) \| Respond to of 203346

Crude Oil: Saudi Arabia’s energy minister tried to assuage oil market concerns about OPEC’s actions. “We need to recognize that at the end of March we’re not going to be at the level we wanted to be, which is at the five-year average,” Khalid al-Falih said in a Bloomberg television interview Thursday. “That means an extension of some sort is needed. My preference is to give clarity to the market, and announce on Nov. 30 what we are going to do.” But the problem is that the oil market has already baked in the cuts into current assumptions. “Anything apart from an extension to the end of 2018 is likely to send the oil price into an immediate tailspin,” analysts at Commerzbank said. “In our view, the key factor in the supply-demand equation is the U.S. shale sector—something OPEC is keen to play down through its constant comments on the agreement to cut production.”