For those who are interested in the lead to OPEC's decision:
- The decision of not cutting production is thorough and just. OPEC members aren't going to reverse at any time soon, as it was "arguing it would cost OPEC market share without guaranteeing prices would improve".
- "Saudi Arabia now believes oil prices could stabilise at around $US60 a barrel". This means the oil price may go down a further $10 , then stabilized.
- When OPEC expects a recovery: a year from now, "Mr al-Naimi told the ministers that enduring lower prices would force high-cost oil producers outside of OPEC, like US shale oil companies, to cut back production themselves, tightening the market by the second half of 2015, the people added."
http://www.theaustralian.com.au/bus...-oil-price-floor/story-e6frg906-1227144193743
For those holding QAN shares, salute and enjoy Christmas . Ho ho ho!
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