Birchcliff Energy Ltd T.BIR

OPEC

[retiredcf]

This is why the price of oil reversed and headed upwards mid day yesterday. GLTA

Saudi Oil Minister: Cuts may be needed

Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said “extreme” volatility and lack of liquidity mean the futures market is increasingly disconnected from fundamentals and OPEC+ may be forced to cut production. BNN Bloomberg's Tara Weber reports.

https://www.bnnbloomberg.ca/video/saudi-oil-minister-cuts-may-be-needed~2505880

[itsalie]

I am not sure how cutting production(lower demand) is good news for cnd oil but the market seems to like it.. 

[Tothemoon2]

I think he is implying that the paper market for oil (a multitude larger than physical market) is not reflective of the real market demand.  Hence if you try to artificially keep prices low, they will cut production to boost prices even more.  That's how I take the message

[itsalie]

yea I think thats it, seems they want to spit in the face of the USA

[AboveBoard]

 "may" be forced.  This is getting to the point of absurd.  If you can drive the price up $5 to $10, on words...crazy times.