Rooster Energy PRBEQ

Re: OPEC "deal"

[grassyknollguy]

BNN had a fellow charting OPEC "deals" comparing what the deals were in Barrels/day and what actually occurred. In pretty much every case, with rare and short lived exceptions , the "deal" production was significantly less than actual. I expect this optimism w/r the production cut will be dampened within a few months.

[westcoast1000]

You may well be right. But bear in mind that it is really sentiment that matters, not the precise balance of supply and demand. The ongoing daily global oversupply has been declining as demand has grown and production has fallen somewhat. The sentiment and the direction of the price move is what matters at this point. Certainly there will be overshoot on the upside as there has been on the