"OPEC is concerned by the drop in oil prices—trading near multi-year lows—and is ready to talk to other producers, an article in an OPEC publication issued on Monday said.
"Today's continuing pressure on prices, brought about by higher crude production, coupled with market speculation, remains a cause for concern for OPEC and its members—indeed for all stakeholders in the industry," the commentary in the latest OPEC Bulletin said.
The Organization of the Petroleum Exporting Countries renewed its openness for dialogue with other producers. OPEC has refused to cut its own output without help from outside producers such as Russia, which have also declined to lower supply..."
Great news for those holding energyand energy related investments (moi'). Looks like the Saudis may have had enough of the low prices along with many others. CNBC just reported that Russia will be in on the talks and agreeable to try and "stabilize" oil prices. my 70-80 guess may just come to be.
Shorts may get burned pretty bad if these guys get togother and actually agree to cut production to get oil prices back up a bit.
"Today's continuing pressure on prices, brought about by higher crude production, coupled with market speculation, remains a cause for concern for OPEC and its members—indeed for all stakeholders in the industry," the commentary in the latest OPEC Bulletin said.
The Organization of the Petroleum Exporting Countries renewed its openness for dialogue with other producers. OPEC has refused to cut its own output without help from outside producers such as Russia, which have also declined to lower supply..."
Great news for those holding energyand energy related investments (moi'). Looks like the Saudis may have had enough of the low prices along with many others. CNBC just reported that Russia will be in on the talks and agreeable to try and "stabilize" oil prices. my 70-80 guess may just come to be.
Shorts may get burned pretty bad if these guys get togother and actually agree to cut production to get oil prices back up a bit.
