Oil Rally Confirmed, page-237

The last thing Saudi Arabia wants now is an appreciation in oil price. They are playing the long game and want to remove high cost production - there is still a long way to go before that happens. In the last few weeks production has been flat and not dropping. Their opponents are shaking but not yet dead and this price rise gives them another sniff for survival. There is a big game being played here between the market/traders and OPEC on who cracks first. I'm confident this rally will not be long lasting and the POO will be a lot lower by the time the so called meeting occurs.