oil price going forward/OPEC---from Seeking Alpha (Morganlander/Schachter part II).........
Following a sharp selloff on Thursday amid fears of oversupply, the price of WTI dropped into the $43 handle before finding a floor during Asian trade. U.S. production levels are now not far off top producers Russia and Saudi Arabia. Tumbling prices would likely force OPEC members to extend production cuts later this month, according to analysts, but
the prospect of deeper cuts appear slim. ---Support level #1 is @ slightly below $12.; so I don't see that holding, but Support level #2 is @ $11.38 & that may offer some support if oil goes below say $40. However if oil goes to the low $30s or to the previous all-time low around $26. may be PeterPP is right! carlos