Opec meetings, Opec output cuts and rising/falling oil prices

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    • Opec meetings, Opec output cuts and rising/falling oil prices

      This is a revisited topic.

      The 13-member Organization of Petroleum Exporting Countries (OPEC) may decide to cut oil output in their scheduled meeting on November 29 in Cairo and on December 17 in Oran.

      Just before the October meeting, the oil prices fell even though the world knew that OPEC was going cut oil output. This time it is rallying. Today is Friday, 28th of November - the last day before the next OPEC meeting. This may be a day to watch.

      This is the day to see if the oil output cut has more influence on the oil prices or the dropping oil demand/market sentiment has more influence.

      There is a poll in this forum for guessing the oil prices end Dec 2008 : http://www.worldoils.com/oilforum/index.php?page=Thread&threadID=58