RE:OPEC Willing to Talk!!!Actions often follow words, so the "jawboning" may in fact turn out to be a precursor to some form of curtailment whether through natural declines in production over the next couple of quarters or in conjunction with some self-imposed production curtailments by producers. It is almost impossible for me to fathom that current prices will linger for an extended period but if they were to then I think it is an almost certainty that what the secretary general of OPEC said, that oil could rise above $200/BO without adequate investment, will come about.
It kind of reminds me of a commerical for auto repairs. Pay me now or pay me later.
Lastly what Namsoc is posting provides me positve news and an indication
of what is discussed at the highest levels of OPEC and therefore gives me hope that what the oil sector has been suffering through may not not last to much longer. Further his posts have always been among the most insightful and useful that I have read on this site for many years.
I assume we are all long investors in COS, but that may not be the case. Regardless we have all read, heard and yes experienced enough doom and gloom but history as Boone pickens has said has proven over and over that oil prices recover.