Seven Generations Energy Ltd. class A common shares T.VII

Saudi's to cut output by 500,000 bbls in December

[Specul8r]

The Saudi energy minister said today that their December cut was due to maintenance efforts and lower seasonal demand. Nonetheless, it's a positive, and it should get other OPEC members, and Russia, to think about price and production targets for 2019 before they meet Dec 6. A bias towards additional cuts is likely, as establishing a floor, even if it's only $60-$65, would help stabilize the market.

[SiriusBiz]

Agreed. Nuetral to good news. Be nice to see the Russians and Americans back off some production too. American shale oil is break-even at best at $60 WTI. Most shale producers have been losing money at $70 WTI. The Iranian oil waivers coupled with lower demand projections will keep pressure on WTI until there is a supply cut somewhere. Maybe we (Canada) should stop giving oil away for a while. The

[dalerules88]

if WTI trading today is any indication, then the market seems to have percieved the meeting results more so positive, than neutral - WTI trading closed friday at $59.84 (after-market) and opened at $60.73 - nothing out of this world, nonetheless still pretty good gap up ... I"m guessing we may fill this gap at some point before NY trading opens, but I'm hoping that once NYC is open, we