Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Oil Shrugs As Iran Hints At More OPEC Cuts, Admits Surprise At US Shale Production

Courtesy of ZeroHedge. View original post here.

If at first you don’t succeed, try again… and if that fails, start jawboning about more production cuts again.

Iranian Oil Minister Bijan Namdar Zanganeh says on state radio that “we are consulting with OPEC member states to have them prepared to make a decision to make further cuts [to production].”

As is clear from the chart below the reaction is anything but exuberant

Zanganeh went to say…

The US oil production increase was unpredictable and this increase is more than what OPEC members had foreseen”

“OPEC should wait a while and see how the market forms”

“But making a decision in this organization is very difficult because any decision will mean an output cut by the members.”

Somehow they saw US shale increasing production amid higher prices as “unpredictable”? Perhaps that’s why the market is unimpressed.


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!