03.03.2016 - Why OPEC will never cut production again
Since the December OPEC meeting, I have come to one inescapable conclusion: that OPEC will never cut production again at the expense of its own market share. Based on that idea, in the past couple of months, my clients, subscribers and I have done well to trade around oil's further decline, the slow bleed out of indebted oil stocks and even bet against a few banks. In the past week, however, oil has shown some strength on the back of young traders and short covering. With huge resistance around $37 per barrel of oil, I don't see that strength lasting long...............................................Full Article: Source
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