interesting view on peak oil by shell
https://www.bloomberg.com/news/articles/2016-11-02/europe-s-biggest-oil-company-thinks-demand-may-peak-in-5-years
should give dougy a bellyache, lol.
too many opec countries are not in a position to or won't cut. I don't think the haves (saudis kuwait and one or 2 others) will sacrifice nearly enough in cuts to compensate. don't see how the russians will agree as they are just bringing on a huge field that took 16 years to develope. us production has inched up the past 3 weeks in a row, the latest inventory build is the biggest since they began recording (in 1982 I think they said).
i believe there is a chance opec may implode at this meeting or at least some members may pull out. not looking good at all for poo which is very bad news for iae as they need good prices especially in stellas first year of production as this reservoir will most likely show fairly strong decline rates after a while imho.
saudis played russian roulet and lost big time, they made a huge mistake in doing what they did 2 years ago. opec members will soon turn on them for it imho.
cheers ferret