RE:OPEC to cut the same 2M and Russia refuses the $60 cap!Clearly some major power moves going on and the traders are having a field-day with oil up $2 and now down $3. So clearly they are leveraging the BS and unloading this AM and now flushing out the weaker players at this juncture.
Paray99 wrote: This is going to be a huge week for oil rallies, unless US and Europe come up with some new stunts!
Oil will rally above $100 for sure, though it is not an overnight game. We should remember that all the western governments, and of course all the consuming countries are on the other side of this game. They need to try everything possible to pull down the price. Now that OPEC decided today to maintain their production cut and Russia already said no to Europe's $60 cap on their oil, things are very bullish going forward. There may be lot of conspiracy theories and analyst BS to pull down the price, but we need persistence. Don't get challenged if you see big price drop for a day or two. Eventually, oil will naturally climb and go above $100.just wait and see.