Commodity Trade Mantra

Posts Tagged ‘Kuwait’

Crude Crash Set To Continue After Arab Emirates Hint $40 Oil Coming Next

“We are not going to change our minds because the crude prices went to $60 or to $40,” Mazrouei said at a conference in Dubai. “We’re not targeting a price; the market will stabilize itself.” He said current conditions don’t justify an extraordinary OPEC meeting. “We need to wait for at least a quarter” to consider an urgent session, he said.

The End Of OPEC - The Benefit of the Crude Oil Cartel is Gone

OPEC seems at a loss about how to cope with competition & is struggling to influence other big producers outside the organization like Russia & Brazil. Unable to come up with a strategy to handle these new developments, the cartel has decided not to intervene, hoping that low prices will eventually curb production in the US.

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