OPEC
Forex News: OPEC announces a 2.2B cut in productions
Posted by Greg Michalowski on Wed, 12/17/2008 - 10:45am in
This is greater than the 2B expectations. Oil is unchanged on the day.
Forex Trading News: OPEC to Cut Production
Posted by Mr. Danish FX on Fri, 10/24/2008 - 5:14am in
OPEC, in an attempt to stabilize the market, announced they will cut oil production by 1.5M barrels a day. Oil is down roughly $4 despite this announcement. This is following a nearly 57% drop in Crude since hitting a $147.27 high in July.
Forex News: OPEC has moved meeting up to October 24th from November 17th
Posted by Greg Michalowski on Thu, 10/16/2008 - 9:41am in
The price of Crude Oil has dropped from $146 to $72.67 currently. This is a 50% decline. The price is at August 2007 levels
Forex Trading News: OPEC President Looks At USD Strength To Gauge Oil Price
Posted by Mr. Danish FX on Mon, 04/28/2008 - 4:02am in
Highlights from OPEC President in a Q & A session this morning:
- Does not rule out $200 a barrel, market linked to USD rise or fall
- 1% rise or fall in USD equals $4 change in oil per barrel
- More oil output would not lower prices
- Oil stocks are high, demand is easing, and supply satisfactory
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