How sad, that their precious comodity is losing value. I’m really sad that these Terror supporters are losing money. Quick, we need to bail them out!
Nov. 14 (Bloomberg) — OPEC, supplier of more than 40 percent of the world’s oil, will probably announce plans to lower supply for the third time in as many months to prevent prices plunging toward $50 a barrel, a Bloomberg survey showed.
The Organization of Petroleum Exporting Countries will cut output at a meeting in Cairo on Nov. 29, according to 17 of 18 analysts surveyed by Bloomberg. Fourteen of the analysts predict the reduction will be 1 million barrels a day or more.
“Given the rapid deterioration in the flow of economic data, and implications for further oil demand weakness, OPEC might have to cut by at least an extra 1 million barrels in order to catch the market’s attention,” said Harry Tchilinguirian, senior oil analyst at BNP Paribas SA in London.
Read this here.
