OPEC really cannot extend this period much longer. OPEC wants to do what I call a soft landing, by easing supply back into the market slowly and not causing any shocks.
OPEC really cannot extend this period much longer, ... OPEC wants to do what I call a soft landing, by easing supply back into the market slowly and not causing any shocks.
We are entering the lowest demand period of the year sitting on huge levels of inventories.
Alliances are temporary engagement periods and are short of a merger, but they get in the way of the business and are distracting from bigger and better things.
The market is therefore focused on two things: No additional supplies coming from OPEC. The other factor is that we should be entering what is a high demand period for oil products with the start of the summer season,
Basically, it was a great period for traders - some of them made a lot of money and some of them lost a lot of money.