OPEC crimping supply is curtains for the oil price

The sub-headlines in the overnight OPEC oil news read;

“Dispute between core members blocks deal to boost output”
“Coming days will determine whether the conflict will escalate”


I think OPEC’s disarray is NOT a positive for the oil price.

OPEC+’s abstinence of adding supply will see slack (supply) found elsewhere due to the lure of current oil prices and adds weight to my trading call of a temporary peak occurring soon as I wrote in last week’s post.


The price of Brent is likely to see a $1 or $2 spike in tonight’s (today’s) session, as the U.S. wakes up from its 4th July holiday break)….

which all coincides with marginal and futile Oil Price upgrades by broking firms to a measly $80.

and if you are establishing a new “long’ position here, you must wonder what last few percent are you trying to squeeze out?

July 6, 2021
by Rob Zdravevski

One Response to OPEC crimping supply is curtains for the oil price

  1. Last nights high was $77.82…before reversing 3.8% to close at $74.93. One day can’t prove the call but surely the trap was set for those believing those broker upgrades.

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