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

To: Goose94 who wrote (53333)	1/15/2019 12:05:52 PM
From: Goose94	Read Replies (1) \| Respond to of 203399

Crude Oil: Saudi oil minister Khalid al-Falih told CNBC on Sunday that Russia’s oil production cuts are “slower than I’d like,” although he added that the OPEC+ coalition would succeed in balancing the oil market this year. “Russia has started, slower than I'd like, but they've started, and I am sure as they did as in 2017 they'll catch up and be a positive contributor to re-balancing the market,” al-Falih said. Al-Falih added that the OPEC+ cuts are on track to balance the market this year. Oman’s oil minister Mohammed Al Rumhi told Bloomberg that the OPEC+ deal would likely eliminate the oil market supply surplus this year. “I think 1.2 million [barrels per day] would go a long way” to eliminating the inventory glut. “The real test will come in the second quarter” when seasonal demand picks up, he said. He added that the OPEC+ cuts could likely sustain $60 per barrel.