The members of OPEC (Organization of the Petroleum Exporting Countries) continue to insist that their efforts to reduce global supplies of crude are progressing as expected. This was being done in an attempt to provide support for a higher price structure. Analysts in the industry are reporting a near 90% compliance, to the recent output cut. Although their claims of dwindling global oil supplies remain a bit exaggerated. The cartel was assisted by the fact that discoveries of gas and oil fields were […]
Oil Price
Oil Prices: No Real Recovery Yet
The pundits continue to insist that a real recovery in oil prices has arrived or will be here shortly. They will provide a host of reasons why this will occur. Meetings and comments by various individuals associated with crude production, are given far more credence than is warranted by actual results. Investors are given a daily barrage of conflicting reports, that fail to accurately give a reliable direction for prices beyond a single day. There are many brokers, investment houses, international banks […]