-
Published on 11 Dec 2016
The
WTI Crude Oil market rose slightly on Friday, as we await the results
of the OPEC and non-OPEC members meeting over the weekend. There is
discussion of a potential production cut, and that of course would help
add potency to the OPEC countries themselves cutting back. This of
course will drive the value of oil higher for the short-term, but there
does come a time where it becomes attractive for US and Canadian
drillers to expand production. Once they do, it’s only a matter time
before races get driven back down. Because of this, I believe that any
positive action with the oil markets will eventually face significant
headwinds. However, I disappoint am not willing to sell until we get
below the $50 handle.
No comments:
Post a Comment