RE:RE:RE:RE:RE:Work from homedllscwbysfn wrote: OPEC makes NO moves but warns it will do what it has to to maintain todays price. I hope they cut though!!!
SA has made it clear on several occations that they want a $90 price and are very unhappy with the NY paper market's bias and cavalier attitude regarding supply . They have also questioned US policy regarding their own domestic production . I'm thinking SA will be looking for mild cut just to call NY's bluff , if they can't get concensus on that expect a strongly worded statement and commitment to respond rapidly to any actual loss of demand .
Since the EU has already agreed on $60 for Russian oil (which is similar to WCS) , hopefully that helps close the WTI/WCS discount but with that agreement to let Russian oil flow , it gives SA room to trim quota's without unnecessary criticism . That just maybe wishful thinking but that's my call .