re: creeping up --> chart Agree Sabretoothed,
I would imagine any day now with news to Yellowbank Creek 4 production testing to be completed with results. The weather has held up OK over there with 35 deg's reported last friday.
Although, our market doesnt seem to be reacting to strongly to current crude oil prices of US$46.30 bbl. Normally the market rallys in the last week before xmas, it will be interesting to see if some rallys breakout towards energy stocks.
The other issue with OPEC, one would have thought stronger market reaction regarding their decision.
"CAIRO, Dec. 10 - OPEC oil ministers agreed on Friday to cut production by a million barrels a day to stem a recent slide in price and called for an emergency meeting next month to consider a reduction in the group's official quota.
Saudi Arabia and six other countries of the 11-member Organization of the Petroleum Exporting Countries will trim their output starting Jan. 1, bringing the group's total production down to 27 million barrels a day, the official quota, ministers said at a meeting here.
OPEC's decision to lower production for the first time since April came in response to oil prices that have declined 26 percent over the last seven weeks."
I think investors are taking it (OPEC news) in their stride at moment.
tp
EPE
enterprise energy limited
