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OPEC lied yet again about production cuts. What I find interesting is that until that issue was actually proven, oil prices were rising steadily. It would appear that the price per barrel was rising based only on talk and nothing more. In other words it seems that the price is almost an arbitrary event at this point. So who is ultimately responsible for the changing prices? The Market? OPEC? The US? At this point we need to completely write-off OPEC and let them sink or swim on their own "merits".
Bruce Oksol
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Mar 11, 2017, 9:03:06 PM3/11/17
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Agree completely. We're going to start hearing "excuses" from OPEC -- why the cuts are working, but we're not seeing the "results" yet in the market.