CL Redux

Quote from InvestVision:

nobody helps recovery ..

Saudis can not say they increase quota in tonights meetings , other OPEC members will kill Saudis if they do at this 80s OIL .

The best you can expect is to keep quota same ( most likely announce cuts , and then later usual cheat of increasing quota to satisfy the countries financial budgets)
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Not sure how they will "kill" saudis seeing they are the biggest country in terms of output in OPEC.

Nevertheless, it is all smoke and mirrors as u say.

Stopped out at 82.85 on that half long.
 
Quote from ammo:

eons mark fisher vid suggested that saudis were dropping oil to stymie iran
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yup, kill two birds with one stone, assist the global recovery & stick it to Iran who are already hurting from sanctions
 
Interesting ...

Wondering how much is Uncle Sam ( US Govt.) is financing Saudis to pump oil in excess of their Quota to keep OIL price down in order to hurt IRAN and make IRAN to come to negotiation table ..

order of $10 Billion can not be ruled out , given that is only the cost of just first week of war if Uncle Sam has to Take on IRAN militarily ..

Now can we say this low 80s OIL is Uncle Sam funded ....

Quote from EON Kid:

yup, kill two birds with one stone, assist the global recovery & stick it to Iran who are already hurting from sanctions
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Quote from InvestVision:

Interesting ...

Wondering how much is Uncle Sam ( US Govt.) is financing Saudis to pump oil in excess of their Quota to keep OIL price down in order to hurt IRAN and make IRAN to come to negotiation table ..

order of $10 Billion can not be ruled out , given that is only the cost of just first week of war if Uncle Sam has to Take on IRAN militarily ..

Now can we say this low 80s OIL is Uncle Sam funded ....
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GM all

http://video.cnbc.com/gallery/?video=3000095785


Expecting some wild swings on OPEC news & denials, they'll be squeezing it for every drop
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Quote from EON Kid:

06/08/2011 09:39 *DJ Saudi Oil Min Naimi: 'One Of The Worst OPEC Meetings Ever'

06/08/2011 09:41 *DJ Saudi Oil Min Naimi: Will Meet Market's Supply Needs

06/08/2011 09:43 DJ OPEC Unable To Reach Consensus; Outcome "Unwelcome" By Some Members

06/08/2011 09:43 *DJ Saudi Oil Min Naimi: Saudi Arabia Has Spare Oil Production Capacity

06/08/2011 09:50 *DJ Saudi Oil Min Naimi: Gulf Countries Wanted 30.3M B/D Output Ceiling
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that caused a 300 swing


plus multiple timeframes coiled pretty tight in this range, Greek elections on W/E
 
Quote from Laissez Faire:

Any scheduled news releases from the OPEC meeting today?
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dont think they do, meeting in Vienna so already afternoon?, so expecting something 9:30 to 11:30
 
Quote from EON Kid:

dont think they do, meeting in Vienna so already afternoon?, so expecting something 9:30 to 11:30
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Got it, chief.

May be a good day to stay out then, if something suddenly hits the wire.

Right now, I`m looking at a test of the overnight low at 27 and then yesterday`s low for a dollar swing as long as this down trend persists.
 
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