OPEC Played Cutbacks Well, Now What?

The Nov. 30 meeting of OPEC could have a dramatic impact on already volatile crude oil prices. How things play out for crude in 2018 remain to be seen. Jeff Quigley, director of energy markets for Stratas Advisors, will attend that meeting in Vienna and outlined key drivers that must be considered as the cartel’s members mull its efforts to rein in supply in a Nov. 16 presentation at Hart Energy’s DUG Eagle Ford conference. “The market shifts have been incredible,” Quigley noted, and that could make the meeting contentious. “Markets now have a very bullish mindset, OPEC could not have written the script any better. But mindsets turn on a dime” while the actual market can’t move that quickly.
Source: Daily Dose of ShaleDirectories.com News

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