oil

A couple of reasons for the price drop:

  1. Opec/ Russia deal unlikely
  2.  Opec oil production for January Jumped to highest in recent history as Iran back on line post Sanctions.Production was 32.60 Mln.  barrels a day  compared to 32.31 in December
  3. Roughly 8.5% rally this week may cause little profit taking before the weekend.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.