Light at the end of the tunnel?
4 replies (most recent on top)
Oil can jump at th drop of a hat. Thats what this shows. But if these are not credible claims that are followed through, market will soon see through it and price will slide back in no time as well.
Yep. Russia and all these petro dollar dependent countries would like the oil price to go up. But they really dont want to cut any production. They would like to take a free ride if somebody else cuts the production. Saudis dont want to be the ones to lead the production cut anymore.. Now Russia and Iran are making some empty noise and hoping that price will rise. But any rise will be short lived.
Headfake is back lol. Russia announced Saudis may want to cut priduction. Market is still 2 million over supplied. Oil will stay low at 30 for 2016
Could be the usual headfake rally to be watchful of. There could be another leg down when Iran talks about oil exports. Also as soon as the price goes up, they will start pumping more driving down the price again.