OPEC is indeed increasing supplies, practising their market share first strategy.
The ECB and OPEC meetings could prove to be a damp squib, which may result in markets drifting a bit lower.
Bullish rhetoric from OPEC is helping drive prices higher, rig count data is also supporting sentiment.
The fact that OPEC is going to get together and come up with a fair value for oil gave some boost to the market.
I don't think OPEC has to worry that much more about U.S. Shale growth long term.
It's a disappointment for OPEC because they've been trying to attract members.
And with the opec production cuts, you're running out of reasons to be short.
Without opec intervention, markets risk becoming unbalanced, with peak oversupply likely in the second quarter of 2015.
Many opec members ... Have plans to grow, so cutting supply now may interfere with those objectives.
Many opec members... Have plans to grow, so cutting supply now may interfere with those objectives.
We have a difficult time seeing how opec would in any way be swayed here in terms of changing course, in terms of policy.
I think that was the bifurcation point. A lot of opec economies were starting to falter.
Opec is fractured or fracturing.
Opec production cuts are hurting the market, and as long as they are in place, the tanker market will remain challenged.
There's no agreement among opec to be slow on this - no common position.
The market would question the credibility of opec and its influence on global oil markets if there was no cut.
The opec monopoly must get prices down now !
