RE:2M barrel cut is going to be too muchBut if the price of crude just wobbles, which is what its doing, even with the EIA numbers just released it won't really factor in to a need for a knee jerk reaction from Powell to increase the planned 75 or maybe even 50 basis point increase.. IMO
HighOctane89 wrote: I would have prefered to see 1M cut because this 2M cut will only feed this vicious circle . We all know that this cut doesn't even cover the present shortfall of actual production/quota but this will all but ensure that Powell's going to hike by 75 points and I can imagine someone will resurrect talk of a 1% hike . The next month may be another slow grind but we'll see , regardless I do like the recent bid action . Get your popcorn