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It looks like this week is ending on a high note with the bulls still raging down Wall Street for a fourth day now and oil hovering at around $48 as all anticipate this coming Sunday’s OPEC meeting in Vienna when a further cut in production is surely to be announced. The betting could begin with how much a cut it will be given more reports today on the persisting decline in global demand. It should be quite a gathering with a much larger-than-usual Russian delegation planning to show up. Hmm... what could that be about? And will we see $50 a barrel by Monday?
For more perspective,
here is a just-released report from the Associated Press.
Jobert E. Abueva
1 comment:
good article
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