RE:November ECA Corporation Presentation is Online
Shorts should cover while they can. I suspect that the Saudi's main gole is to get the other OPEC producers, and some of the other none OPEC producers in line by giving them a taste of what they could be in for if they do not cooperate. The outcome of the upcoming OPEC meeting will set the pace for oil and if they come out of there some what united and with some production cuts, then the trend for oil quickly reverses. Saudi's are simply saying that they are not prepaired to do all the heavy lifting and as they are the low cost producer with lots of cash reseves, they will come out on top in any price war. It will be an interesting few weeks. ;-) JMO