Replies to post #57397 on Savvy Trades and Investments

[researcher59]

I doubt it ... if Saudia Arabia, OPEC and Russia do some math they'll realize a production cut raises prices more than enough to offset the volume declines. To realize greater revenue and profits they'll need to cut production, not raise it .... they just took a step in that direction at the last OPEC meeting.

The current swoon in oil prices to $45/bbl is near to reaching a bottom and won't get anywhere near the $29/bbl low of early 2016. jmho