OPEC Live Webcast

Quoting Tony112

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The effect of this meeting is more than you can imagine. This is historic as he said. For anyone that is short on oil I would suggest to change tables for now. Personal opinion.

Ignored

What's your target Tony?

Brent about 51 crude is 49 now. Mind you, I'm not trading any oils!! I just use them in other trades.

Let's forecast....
I say 35 soon.
Who says 65?

Edit: Subdude you are rockstar!!!

Nov 30, 2016 2:02pm

Quoting Subdude

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You are entitled to your opinion, no matter how wrong it is. This "historic" deal is going to amount to a 1% reduction in the world-wide supply of oil, at best - provided non-OPEC producers do not ramp up production to take advantage of higher prices, as opposed to cutting it. If they do, this deal is a zero-sum gain essentially making the cut ineffective.

Then there are questions of how they're going to follow through on the deal, enforce it etc. Then of course there's the issue of why they need to cut in the first place other than as...

Ignored

Let's wait and see but the train has already left.

Subdude

Nov 30, 2016 1:25pm

Quoting Tony112

Disliked

The effect of this meeting is more than you can imagine. This is historic as he said. For anyone that is short on oil I would suggest to change tables for now. Personal opinion.

Ignored

You are entitled to your opinion, no matter how wrong it is. This "historic" deal is going to amount to a 1% reduction in the world-wide supply of oil, at best - provided non-OPEC producers do not ramp up production to take advantage of higher prices, as opposed to cutting it. If they do, this deal is a zero-sum gain essentially making the cut ineffective.

Then there are questions of how they're going to follow through on the deal, enforce it etc. Then of course there's the issue of why they need to cut in the first place other than as psychological warfare; major producers can do just fine with oil price being where it is/was just before the "historic" deal.

Subdude

Nov 30, 2016 3:18pm

Quoting Not-KPMG

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What's your target Tony?

Brent about 48-49 now.

Let's forecast....
I say 35 soon.
Who says 65?

Edit: Subdude you are rockstar!!!

Ignored

Thanks, man - just using a bit of rational analysis here...

My targets are a bit more modest but I would expect that depending on data and risk sentiment, we may see low 40s before year end, mid-30s to follow, perhaps within 3-4 months as reality about the "deal" sets in. In the meantime, it's not inconceivable to briefly touch 52 or so... can't see the market sustaining that level for any amount of time though.

fxx360

Nov 30, 2016 10:22am

Quoting Tony112

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Brexit: surprise
Trump: surprise
Opec: surprise. They did it. He said historic moment!

never 2 without 3! go!!!

Ignored

Dude give OPEC some time and they will need another agreement to go with this one ffs !!

Nov 30, 2016 10:30am

Quoting Tony112

Disliked

Brexit: surprise
Trump: surprise
Opec: surprise. They did it. He said historic moment!

never 2 without 3! go!!!

Ignored

Sure.... and we know that after any 8% up will come minimum 3% down )))

Nov 30, 2016 11:23am

Quoting kenleander

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Trump and Brexit were only surprises to those who thought big, stupid, sloppy government will go on forever. A six month agreement on OPEC is just good business.

Reason shouldn't be surprising.

Ignored

The 3rd Big surprise will come soon on 8 DEC Draghi ( QE prog) 80B expired Sep 2017 or less ......70B or 90B sure surprise coming soon be ready ......

Nov 30, 2016 10:16am

Bought oil on full margin+++

Nov 30, 2016 10:19am

Brexit: surprise
Trump: surprise
Opec: surprise. They did it. He said historic moment!

never 2 without 3! go!!!

UnBearybull

Nov 30, 2016 11:24am

Brexit and Trump were not surprises as we are in a right-wing shift of the cycle, simple. A red-bearded dead monkey could have beaten Hill. We are in the post-truth world, a world where OPEC types do very well.

Nov 30, 2016 12:37pm

The effect of this meeting is more than you can imagine. This is historic as he said. For anyone that is short on oil I would suggest to change tables for now. Personal opinion.

Exodus

Nov 30, 2016 10:47am

Quoting Ghassforex

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Sure.... and we know that after any 8% up will come minimum 3% down )))

Ignored

Brent has seen nearly 10% move today, not including the gap-up 1am (GMT)

Nov 30, 2016 10:26am

Quoting fxx360

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Dude give OPEC some time and they will need another agreement to go with this one ffs !!

Ignored

Agree))) SELL oil over 50 $

Nov 30, 2016 10:28am

Quoting Tony112

Disliked

Bought oil on full margin+++

Ignored

Sell oil over 50$ after any deal oil will target 50/52 maximum

fxx360

Nov 30, 2016 10:33am

Hehehe !!! Read between the lines...... lots of uncertainty coming out of this news conference .

Lots of ah! ....ah!....ah!! .....BS

Nov 30, 2016 10:36am

Better to short JPY/USD around 250 pips up today 1.1454 look at monthly chart ...GAP closed ....!!

Nov 30, 2016 11:17am

Quoting Exodus

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Brent has seen nearly 10% move today, not including the gap-up 1am (GMT)

Ignored

Sorry then if 10% will see 4 % down ))) lol

kenleander

Nov 30, 2016 10:50am

Trump and Brexit were only surprises to those who thought big, stupid, sloppy government will go on forever. A six month agreement on OPEC is just good business.

Reason shouldn't be surprising.

Trader#D8BF

Nov 30, 2016 11:35pm