Opec Successful Third Day Increase

Discussion in 'Commodity Futures' started by tradebenz, Oct 16, 2006.

  1. The action taken by the OPEC members is working with the greater effect on the oil prices, the prices of the oil are charging with the greater speed, the decision taken by the OPEC members in cutting production is creating more demand for the oil, that’s what is creating demand.OPEC is ready make discussion on this issue to meet the demand of 19 of his month in fixing the oil prices. These member are going to meet in Doha, Qatar, to discuss the same matter as said by Qatar oil ministry.

    OPEC is playing monopoly in the oil market. There was no cut down in output in practice by OPEC but I think there was an agreement in cutting down the output
    Crude oil for November delivery charged as much as 66 cents or 1.1 % reaching to 59.23 $ a barrel.