So OPEC and allies together have decided to pare 1.2 M BPD from oil flows in to the market. Market consensus I think was about 1 M BPD and given this surprise to the upside it was obviously very well received by the market. Only 2 sectors up last night were Energy and REIT's. In my view this set's things up quite nicely for WOR's SP with the POO now hopefully steadying and potentially rising as we count down towards the end of year. Only other thing that needs to be resolved is this unwanted stock sitting with the sub underwriters... which hopefully by now they have been able to dispose of the majority of which. Only reason oil couldn't kick on further last night was the Wall St savaging... Anyway, feeling this could be very real catalyst for a strong mover in SP from here on and with the help of those professional investors (fund managers) who are all in, we should be in for a good December!..
Cheers
WOR Price at posting:
$13.00 Sentiment: Buy Disclosure: Held
(20min delay)