Fernando Aguirre BEHR Group New York - Oil Prices Rise
Why Oil Prices Will Rise More And Sooner Than Most Believe
As the September 26 to 28 "informal" meeting of OPEC producers in Algeria draws near, media speculation could easily cause mental...
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Fernando Aguirre BEHR Group New York - Oil Prices Rise
Why Oil Prices Will Rise More And Sooner Than Most Believe
As the September 26 to 28 "informal" meeting of OPEC producers in Algeria draws near, media speculation could easily cause mental anguish. On oil news websites simultaneous headlines claim OPEC will both fail and succeed in capping output. Called by OPEC August 8, the stated purpose of the gathering was, "OPEC continues to monitor developments closely, and is in constant deliberations with all member states on ways and means to help restore stability to the oil market".
Fernando Aguirre BEHR Group New York: Obviously that is the view of the organization, not the member countries. Iran and Saudi Arabia remain at loggerheads over which will exert the most influence in the Persian Gulf. Iraq, Nigeria, Libya and Venezuela are all experiencing various forms of internal meltdown which thankfully (human suffering notwithstanding) is keeping a lot of oil off the market.
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