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- The Truth About the Big Oil Production Freeze
- How a Surprising Alliance Could Shake Up the Oil Sector
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Russia and Saudi Arabia want differing outcomes from tomorrow’s big OPEC meeting.
The Saudis want production cuts extended through 2018, while Moscow wants flexibility.
The last November OPEC meeting sent oil prices rocketing 20% higher in less than a month, and now this year's Nov. 30 meeting is shaping up to be just as important...
The agreement is set to expire in March 2018, just as oil prices are rising again.
There are countless headlines touting news that the OPEC production deal is now in peril.
But in the wake of the Qatar crisis, we'd like to remind you: The battle-hardened oil cartel can't be brought down by such a minute squabble.
Markets don't expect an OPEC oil deal in September, but that doesn't mean it's completely off the table.
As OPEC divides itself into "haves" and "have-nots," the cartel is opening the door for global chaos.
The new Saudi oil minister, Khalid Al-Falih, was unsuccessful in convincing Iran to stop its excessive oil production.
OPEC met today in Vienna, but was unable to reach an agreement. Because of the excessive oil production, prices could be on the verge of plummeting.
The City of London is hands-down the most important energy financing command center on Earth. More money for oil and gas projects is raised within a three-mile radius of Liverpool Street station than anywhere else in the world.
Naturally, this part of town is packed to the rafters with some of energy's most influential and important "money men" and women.
When I was at the Palace of Westminster for a closed-door energy briefing at the House of Lords, these financiers were absolutely electrified by one recent development.
After a hefty rise of 46.9% for the month through close last Friday, WTI crude fell for two consecutive sessions to start the week.
As always, pundits with no real experience in the industry will blame the "glut" - but excess supply on its own is not responsible for today's oil conundrum.
Instead, the key factor in how people regard the market and anticipate oil prices today is guaranteed excess supply.
With word swirling about Russia and Saudi Arabia agreeing to freeze oil production, the talking heads are up in arms about whether it will make any difference or not.
On the table is an accord to keep production at January levels, with most of OPEC probably following Saudi Arabia's lead.
In the short term, getting Iran on board is key. Today, meetings took place with Russia, Saudi Arabia, Qatar, and Venezuela on one side of the table, and Iran on the other.
Events in Abu Dhabi Friday point to OPEC having a brand-new ally in the oil sector - one no one would expect...
This unexpected partnership could have a massive impact on oil production moving into 2016.