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Thursday, 29 June 2017

OPEC Resists Flow of History With Reluctance to Cut Deeper - Bloomberg

OPEC Resists Flow of History With Reluctance to Cut Deeper - Bloomberg:

"The chorus in the oil market calling for deeper production cuts gets louder almost every day. By resisting the clamor, OPEC is breaking with its own history. As crude sank below $50 a barrel -- less than half the price of two years ago -- market-watchers from Goldman Sachs Group Inc. to former OPEC officials said supply curbs imposed this year need to be intensified. That would be consistent with past behavior, when production cuts or increases often arrived in stages a few months apart. "



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