The key takeaway from the OPEC 'deal'
I posted here on why I think the OPEC oil production limit deal is going to be a tough one to stick to
- OPEC production cut "deal" - what we know so far
- OPEC committee to report in November. Heads up, OPEC Nov. meeting is on the 30th
So I won't go over all that again
So, looking at it from a different angle ... if your an oil producer, what are the positives that have come out of the meeting?
I reckon its that
1. Saudi Arabia has softened its stance on dealing with Iran
and 2. Saudi is showing some willingness to think about production cuts and higher prices
Otherwise though, it's a crock.