OPEC effectively pricing crude in euros?

Discussion in 'Commodity Futures' started by illiquid, Dec 3, 2003.

  1. I'm a total newb when it comes to the oil market, but if OPEC's desired range for crude has been 22-28 dollar, and if economic activity is as on fire as the reports and equity markets would have us believe, then why is OPEC considering further cuts? Is it simply that at the current price oil is still 25 euros/barrel and that they see further dollar deterioration? Just throwing this out there.
  2. pspr


    Good point. They probably are thinking they have to protect their European pricing too.