Oil and Natural Gas

soon I hope and no problem ........:nerd:

http://www.bloomberg.com/news/2014-1...-minister.html

Iran’s Oil Minister Bijan Zanganeh is to meet with Al-Naimi in Vienna about a possible proposal to cut OPEC output by as much as 1 million barrels a day, state-run Mehr News reported yesterday. Zanganeh also plans to hold talks with Russian Energy Minister Alexander Novak,

The answer is keep production level the same.

They maintain current output. This would drag it down to 60?

Hello guys
I'm new here and this is my first post
Please excuse me to join here and learn from all of you

BTT
here is my thought
whether OPEC cut their production or not, I think the main problem supply outnumber demand
(due to shale technology revolution in US)
in the near term, it could be rally
but in the mid to long term
I think level 50 could be reached......

or


even lower

Crude Resumes Decline ahead of OPEC Meeting
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ONG Focus | Insights |Written by Oil N' Gold |Tue Nov 25 14 00:22 ET

Crude oil dropped as investors awaited the OPEC meeting later this week. It appears more likely than not that the members would not reach an agreement to cut production despite price decline. The front-month contract for WTI crude oil dropped -0.95% while the Brent crude contract fell -0.85%. Gold also slipped as the SNB’s Thomas Jordan was against the November 30 referendum about raising gold reserve. He warned that a yes vote would severely limit SNB flexibility. The benchmark Comex gold contract slipped -0.17% and settled at 1195.7.
It is estimated that OPEC, a cartel that currently producing 40% of the world's oil, would see its market share shrinking -5% by 2018, as US shale oil supply increases rapidly. With reduced control over the market, the OPEC is in a dilemma to cut production as even a bigger cut might not be sufficient to rescue oil prices. Rather the production cut might exacerbate the cartel’s loss in market share and revenue. It is pessimistic that the OPEC would announce after this week’s meeting anything meaning. Indeed, we expect to see further selloff in crude oil as investors might want to test the bottom and the level that major oil producers could tolerate.
Switzerland would hold a referendum on November 30 regarding whether the SNB should be required to hold at least 20% of its assets in gold, up from the current 8%. SNB president Jordan warned that the initiative is "dangerous because it would weaken the SNB" and "would make it considerably harder for us [the SNB] to intervene with determination in a crisis situation and fulfill our stability mandate". He added that the move "would greatly restrict our monetary policy room for maneuver, since the SNB only retains its full capacity to act when it is in a position to adjust its balance sheet to monetary policy requirement". Proponents of the initiative suggested that increasing the SNB’s gold holdings would help preserve national wealth. Moreover, they doubt the effectiveness of the SNB’s pledge to defend the EURCHF floor at 1.20.
The BOJ released the minutes of the October 31 meeting after which the central bank announced to expand the annual government debt purchases to 80 trillion yen from 50 trillion yen, as the members were worried that inflation would undershoot. The minutes showed that "many members" expected that core CPI might stay at +1% "for some time". The BOJ might need to revise lower the inflation forecasts if oil prices stayed flat. The vote to expand QE was 5-4. The minutes unveiled that some members were concerned that the expansion would be viewed as the BOJ is financing government deficits.

hmmmmmmmmmm whatever happens OPEC and USA are in this together......

It's All About Oil
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Daily Forex Fundamentals |Written by Swissquote Bank SA |Nov 25 14 10:44 GMT
It's All About OilNews and Events:
The oil markets are focused on OPEC meeting due on November 27th. WTI futures trade water at about $75, Brent crude at $80. Rumors that OPEC may delay the production cut should keep the upside limited until Thursday. Iraq, Iran and Libya should be exempt of cuts in any scenario. The CBR inject 200 billion ruble in a fine-tuning operation to provide liquidity today. The Loonie trades in wait-and-see mode before the Canadian retail sales and US GDP data, yet only minor moves are expected on economic data. Should the OPEC keeps the production steady, USD/CAD should break into fresh bull market.
OPEC may delay production cut
Thursday's OPEC meeting is one of the most expected events of the week. There are rumors that some OPEC members will be willing to cut outcome to sustain prices, while the delay in Iran-US nuclear talks may also have a deferring impact on OPEC decision. With US production expanding in record high levels (9 million barrel per day according to Nov 14th data), no one can guarantee that a production cut from the OPEC members will sustain the oil prices. It may however lead to a market share loss and we are not sure the OPEC will take this risk. Russian energy minister Alexander Novak said his country is already sustaining the oil market by keeping output stable, adding, he sees little chance of agreement to cut production at Thursday's meeting.
This being said, the bear market could further develop following Thursday if OPEC decides to move on with steady supply. OPEC supplies 40% of world' crude markets and produces 30 million barrels a day since January 2012.

Id love to chase this right down and follow it right back up after some players are out or the next major event

By bloomberg news:
Iron ore drop below 70
well, all commo going down
It's not good sign for global economic

Does anyone know a live feed online to tomorrow 's OPEC meeting

here should be the live feed for tommorow http://www.opec.org/opec_web/en/multimedia/349.htm

Go baby go! Let's crack under 70!

whats up?
they decrease production or not?

Unclear. Closed doors meeting taking place now. Check back at around 16:00 GMT. Watch the open press conference.

just be very careful, trade your plan....

news are noise but in this case a good tight sl on your short might be wise.

thanks,
G

usoil current 72.16

yellow channel support bounce or penetrate to finish 161%?

nov 7


today

monthly view

hmmmmm.....

OPEC leaves production quotas unchanged – report
45 minutes ago | November 27th, 2014 14:50:57 GMT by Adam Button View Comments
No change in oil production from OPEC
A newswire source in Vienna reports that OPEC members have decided to maintain the current production level of 30.0 million barrels a day.
Chatter that the comment came from a delegate leaving the meeting, cited by Bloomberg.
Now Reuters confirming, they cite Saudi Arabia’s oil minister who was asked if OPEC will not cut, he said “that is right”
Oil is falling out of bed, WTI down 3.4%, testing $71/barrel.