OPEC cutting production is a reaction to rising reserves and has little meaning today. There is not much discipline in the OPEC ranks. Many members are not receptive to cutting production.
According to the "experts", crude could sink as low as $35.00 per barrel by this time next year. The global economy isn't expected to pick up before then. In all fairness, customers are disappearing. Construction and manufacturing are stagnating all over the world.
The scales are tipping back the other way, my friends. Petroleum is not a seller's market right now.
According to the "experts", crude could sink as low as $35.00 per barrel by this time next year. The global economy isn't expected to pick up before then. In all fairness, customers are disappearing. Construction and manufacturing are stagnating all over the world.
The scales are tipping back the other way, my friends. Petroleum is not a seller's market right now.

