RE:RE:RE:Opec Oil alliance OPEC+ extends collective crude production It's manipulation plain and simple. OPEC is walking a tight rope. They are trying to appease both sides of the US government. Holding steady with rhetoric of an increase is a concession to both parties. I expect oil will slide lower as market narrative is set to worrying about future production coming online and lowering the price. Meanwhile production levels will remain the same. OPEC will delay any significant and meaningful decision/announcement until after the US federal election. It's in their interest to remain onside of the US government regardless who sits in the oval office.
This really is shaping up to be a year to sell in May and go away.
Citizen13 wrote: Not so excellent news, returning barrels to the market is bad news even with a 4 month warning . LOL. Not sure how they thought that was going to be well received. Oil down 3 bucks so far.