I wonder what kind of contingency plans are being kicked around by the smaller former members. People start wars over money , You understand .
There has to be plenty of animosity towards SA , from all the former members of the now defunct OPEC . What are they guzzeling Chavez Country , can they brew banana rum on the cheap ?
They truck out a lot of it , but ships are idle , full and at anchor , awaiting green light.
They certainly have a lot of oil sitting at anchor , and that cost them Big Ka Chingos ......
This one had a small spike when deal news broke. An analyst I follow ,came out today with strong buy on XOM , and expects much higher oil in coming months.
When They started selling , under a guise of margin call , that should have been My sell signal. I forget what it was trading at the time , probably at least double of My exit point of 8.