Granite Oil Corp GXOCF

RE:Goldman Says Ignore Technical, Savor the Fundamental on Oil

[lemeilleur]

That analyst is right if we look at Asia and European market where oil producers have a good attitude to slow down production
 But the reality is that U.S. producers just want to extract more oil off the ground and just taka advantage of OPEC and non OPEC members ( ya,  USA do not want attend those meeting) 
   What we see now is Oil selling at aroung $53  and trding higher until the U.S. and Canada market opens.   Then oil drops.  
   The market is reflecting reality.  Opec slowing production then their market see higher price of crude.
 And the US market having absolutely no words or attitude to slow their production losing ground and have investors seing the value of stocks decline to record level lows in relation to the price of crude oil.
  And still to this day,  No producers in the states or their association saying they are too realizing and willing to slow down their production.
  Economically speaking. That is poison.  USA producers leeching on OPEC cuts is not a good equation for investors.
  So we lose.