RE:RE:OPEC DealNessrookie wrote: The market actually agrees with you. Almost every analysts polled believes this deal will fail. In fact most in the market believe a freeze itself is meaningless If that's the case would leave one to believe this is already priced into the market? Because absolutely no one in OPEC or Russia is talking cut If everyone agreed it would succeed and then it failed. Now that would be scary
Exactly. Everyone said this last time and oil dropped a bit then starting going back up. Made its way to over $50. The market hasn't reacted much to this talk. Oil is up on fundamentals. The whole oil industry is bleeding and falling apart. Soon people are gonna have to pay the true price of oil which includes exploration, development, maintenance all the way to abandonment. The price of oil right now is priced mainly just on lifting costs. That won't last much longer. Kazakistan is the future of oil right now where billions has been invested and should be in operation by 2020 and more coming online for years after. With lifting costs at only $4-$6 this will be tough for any producers to compete with. I hope there's still not a glut when that comes online or the oil industry is doomed. Glta