<Oilwatch Monthly - October 2008 The Oil Drum October 24, 2008 OPEC Meeting Open Thread>

22 comments on POLL: How much will OPEC Quotas be cut on Friday?

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offtrack on October 23, 2008 - 8:56pm Permalink | Subthread | Comments top

oops, we (the world) have cut back.
so who will cut how much.?
(at the meeting)
how much must I cut ,says the OPEC members.
Argument. on and on. A lost ship at sea , with no rudder.
end of meeting,
or
some hollow words that all cut 2% and no promise for how long.

either way, same result. Glut.

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Oil Watcher Named Ed on October 23, 2008 - 9:48pm Permalink | Subthread | Parent | Comments top

"so who will cut how much.?"

The highest cost producers will cut until the marginal producers cost is 67$ a barrel. This might be a overshoot on the way down and several perturbations until equilibrium. (Which won't last long -- according to peak oil prediction.)

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22 comments on POLL: How much will OPEC Quotas be cut on Friday?

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