Saturday, November 12, 2016

Crude Oil: Don't Pay Attention To What OPEC Says

I learned not to pay too much attention to what OPEC says it will do or not do. They certainly have been talking a lot. But the question with OPEC is that even when they agree on a production cut, than what happens there is always a country or two doing something else under the table, cheating the supply cut deal. If I were you I would certainly not pay too much attention to OPEC.

Right now, crude oil is making a base between 30 dollars a barrel and 55 dollars a barrel. (United States Oil Fund LP ETF (USO), Nymex Crude Oil futures, )

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