The Rising Influence of Rising Affluence

[mr_o]

I think the brunt of it is over but i'm not sure now is the time to buy. There has been a short-mid term fundamental shift in the oil markets. Heres a Bloomberg summary of what some analysts have said today.
OPEC REACTION WRAP



OPEC REACTION WRAP: SocGen, Barclays, BofA, Nomura See Lower Oil


By Stephen Voss
Nov. 28 (Bloomberg) -- More analysts predict lower prices
in wake of OPEC’s decision yday.
* SocGen: OPEC meeting to lead to Brent at ~$70/bbl for 2 yrs
* Barclays: Brent crude to fall below $70 in short term
* Citi: oversupply to rise to 1.3m b/d amid OPEC inaction
* RBC: oil turbulence seen over next few mos amid rebalancing
* Nomura: oil to fall to $60s as OPEC slows U.S. shale growth
* OCBC: religous adherence to quota suggests 1m b/d supply cut
* BofAML: Brent crude may fall below $60 in next 6 mos
* Credit Suisse: Brent to build base in $71.75-$67.87 area
* Deutsche Bank: mkt seen in crisis in 1H as OPEC stands pat
* Russian President Putin: sees oil mkt stabilizing in 1H
* Bloomberg’s Leung: WTI may hit floor at $60.17 on OPEC move
* Bloomberg’s Lee: slump will undermine OPEC quota compliance

I highlighted the one I agree with most.