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Mortenm

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Mortenm

Re: None

Thursday, 12/01/2016 2:29:13 AM

Thursday, December 01, 2016 2:29:13 AM

Post# of 30375
Oil price meeting for the OPEC countries in Wien.

News from 30th November:
http://fortune.com/2016/11/30/opec-oil-prices-meeting/

In summary, Iran and Iraq (mostly Iran) have entered a deal with the Saudies to reduce the oil production.
The Saudies have (according to Nordea) been able to dump prices for 2 years (so they have run out of options now - also because decreasing marginal costs for fracking firms).

So, less production implies higher prices.
If PEIX shareprice is positively correlated with oil prices (can someone explain me why that is??) then we are heading towards higher margins.

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