AzCactus Posted November 30, 2016 Share Posted November 30, 2016 I thought this was worth sharing : https://www.bloomberg.com/news/articles/2016-11-30/opec-said-to-agree-oil-production-cuts-as-saudis-soften-on-iran Link to comment Share on other sites More sharing options...
investor-man Posted November 30, 2016 Share Posted November 30, 2016 wheeeeeee! Link to comment Share on other sites More sharing options...
rb Posted November 30, 2016 Share Posted November 30, 2016 I think that the optimism may be a bit overdone. That's what? A little more than 1.2 M bbls per day? US and Canada can probably fill that in no time. And that's assuming that OPEC members won't cheat. Link to comment Share on other sites More sharing options...
Pelagic Posted November 30, 2016 Share Posted November 30, 2016 Here's the cuts by country http://www.opec.org/opec_web/static_files_project/media/downloads/press_room/OPEC%20agreement.pdf This agreement has been reached following extensive consultations and understanding reached with key non-OPEC countries, including the Russian Federation that they contribute by a reduction of 600 tb/d production. So 1.2 mmbbl/d from OPEC and another 600k from non-OPEC cooperating countries, presumably most of that from Russia. Won't hold my breath that they stick to it but for now it's bullish. Link to comment Share on other sites More sharing options...
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