Saudi Arabia demanded on Sunday that Iran join a global deal on freezing oil output, jeopardizing an agreement between OPEC and non-OPEC producers that was supposed to help ease a glut and prop up the price of crude. Some 18 OPEC and non-OPEC countries, including Russia, had been meant to meet on Sunday morning in the Qatari capital of Doha and rubber-stamp a deal - in the making since February - to freeze output at January levels until October 2016.
But the meeting was postponed after OPEC's de facto leader Saudi Arabia told participants it wanted all OPEC members to take part in the freeze, according to OPEC sources. Riyadh had earlier insisted on excluding Iran from the talks because Tehran had refused to stabilize production, seeking to regain market share after the lifting of Western sanctions against it in January. With the deal running into trouble, oil ministers in Doha met with the Qatari emir, Sheikh Tamim bin Hamad al-Thani - who was instrumental in promoting output stability in recent months.
But a new draft seen by Reuters thereafter contained none of the binding points of the previous outline......not sounding good!
Iran has a BS economy, and oil is all they have....they didn't diversify, if you exclude terrorism
the Doha meeting is already done, Iran and Saudi Arabia have agreed to freeze their production at these record high levels,
and they expect Iran and Iraq to freeze their production at record low levels....
100% chance of success...
I would recommend you leave this stock alone ,
you will get burned heavily here, you don't understand it.
This stock never resets daily, you definitely re seriously deluded.
Its purely and ETF short oil times 3 in the negative direction, and you cant use your cheering skills to change it;s direction
DWTI is simply 3X theinverse of the price of oil future contract, nothing else. Its not affected by buying or selling it, its only influenced linearly to inverse X3 the oil price contract. So it will be the same price +_ when oil future contract was around $26-28 previously...
Its doesn't matter now any more, Russia and Saudi Arabia have agreed to freeze, so Iran does not need to, and wont as they are far behind in production..... this could be the peak in oil?? IMO
Oil prices slipped on Monday after banks dampened hopes that the meeting of producers in Doha next Sunday, aimed at freezing current output levels, would improve the demand-supply balance.
"Oil prices slipped on Monday over worries that the result of next Sunday's meeting of producers in Qatar aimed at freezing current output levels would fail to improve the current supply-demand balance"
now we done the $40 with no other reason than a hope based on a meeting.....
Now the opposite directing will come after the meeting ....
I believe Saudi Arabia is playing us up and down on fake news releases...
DWTI is not a share , nor is it the market, its purely the price of oil X3 in the downward direction.
All that holding oil where it is is expectation of meeting..... which we know Iran will walk out of, and Saudi Arabia secretly wants oil at $29 to hit Russia and Iran....
that is what is going on here, and nothing lese
"......The outage was due to a delay in the restart of the Keystone pipeline. It delivers crude oil to Cushing and Illinois. These pipelines provide a supply of 590,000 bpd (barrels per day) of crude oil. As a result, the front month crude oil futures contracts and second month crude oil futures spread were the narrowest in the last three weeks."
Don't be fooled by an oil price rise.....its temporary IMO.