The world’s top #oil producers pulled off a historic deal on April 12 to cut global crude output and put an end to a devastating price war: Bloomberg reports. OPEC+ will cut 9.7 million barrels a day -- just below the initial proposal of 10 million.
Trump just tweeted saying they cutting 20million barrels a day!! He said the energy industry will be strong again, far faster than currently anticipated!!
wti wont be below zero again in short time, the whole world production now produce less oil and soon low demand will intersect with reduce inventories and balance
Be wary of Oilprice.com....Trying so hard to get subscription (your money) so need to sometimes make up news. Look at reality and facts., Fact is as long as no buyers for oil...cutting production don't matter so much.
for me the time to buy is when crisis at peak, i do think it has peak now till early may and oil has enter rebound stage
cutting prod will work if qty produce = demand, now cut -10% but demand -30%, with more producer produce less (due to no storage, low price), it will find the equilibrium soon, possibly early june
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Surewin168
383 posts
Posted by Surewin168 > 2020-04-07 21:24 | Report Abuse
sigh