Sounds like the taps will be turned, but is the well dry?
- Any decision we make will be based on fundamentals
- We will try to maintain the consensus that has characterized the past two years
- Confident that reason will prevail
I don't think OPEC has many cards to play, but I think the market believes OPEC has more cards to play and that's what will matter this week.
WTI is up $1.36 to $66.43 today in a sign that market participants aren't worried about a bit of Saudi oil coming online.
