Wednesday, September 28, 2016

OPEC Reaches Deal To Maximize Output aka. Last Chance To Sell

OPEC will first raise production to maximum output, in order to limit production in November...

Saudi Energy Minister Khalid al-Falih said on Tuesday Iran, Nigeria and Libya would be allowed to produce "at maximum levels that make sense" as part of any output limits 

Iranian output has stagnated at 3.6 million bpd.

"The best that can be...hoped for at this afternoon's meeting is the laying of foundations for a deal when the cartel next meet in November by which time Iranian oil output may well have reached the all-important 4 million barrels-per-day mark,"

USO Candlesticks