Without any further word from Saudi Arabia about production, ... there is no reason to believe that we won't see prices move higher.
More Quotes from Lawrence Eagles:
Whether OPEC chooses to make public the size of any output cut ahead of the ministerial meeting Nov. 14 is uncertain, ... But it may well choose to do so if prices remain weak.Lawrence Eagles
Saudi Arabia and even the hawks, like Iraq, are reluctant to see the price stay above 30. They won't leave this meeting without a new agreement on the mechanism for delivery of more oil.
Lawrence Eagles
There were a few signs overnight that, although clearly tensions are rising, there is a window of opportunity for some peace settlement over the next three days.
Lawrence Eagles
Compliance will improve from February levels, partly because the winter demand will not be there and also because of the fear that prices will slump if OPEC is not seen to be in firm control,
Lawrence Eagles
Describing the Saudi action as a totally shocking move ... The Saudis are stamping their authority on the world oil market, but at the expense of relations within the cartel and the Middle East.
Lawrence Eagles
The U. S. will respond to this attack in some fashion and there remains a small fear that it may lose some Middle Eastern support as a result.
Lawrence Eagles
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