It isn't about a price freeze. It's all about agreeing to set a production limit. So they are able to manipulate the supply side. The demand is not in anyone's control. The imf just recently forecast the world economy to slow down further. I don't believe India is able to single handededly overturn the lack of of oil demand in the near future.
Like I said. If us oil rigs close down it allows opec and others to pump more oil. That was the whole point for the gulf to flood the market initially.
SXY Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
