OPEC agrees to cut output by 1.2M barrels per day - Bloomberg citing delegate

November 30, 2016 8:19 AM EST

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OPEC agrees to cut output by 1.2M barrels per day - Bloomberg citing delegate



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Comments

A wise Quantity & timing of production cut.
Maxander_D10 on 2016-11-30 09:54:50
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OPECs 1.2 mn bpd & Russia around 200,000 bpd production cut equals to ariund 510 mn barrels production cut for a year which is almost equivalent to 500 mn barrels of US crude oil inventory. That is the reason Why I said the amount of production cut is wise.
Now on timing, the timing is perfect as FED is likely to increase rates by 25 BPS in coming meet. SO rate cut goes along with production cut. A great timing again.

A wisen production cut quantity & timing.
Maxander_D10 on 2016-11-30 09:53:31
Mark as Spam | Reply to this comment

OPECs 1.2 mn bpd & Russia around 200,000 bpd production cut equals to ariund 510 mn barrels production cut for a year which is almost equivalent to 500 mn barrels of US crude oil inventory. That is the reason Why I said the amount of production cut isn wise.
Now on timing, the tiing is perfect as FED is likely to increase rates by 25 BPS in coming meet. SO rate cut goes along with production cut. A great timing again.


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