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I’m heavily long TLW tried to average down through the fall. However I’m still worried about the demand problem. Until there is a vaccine people will be wary about going out and getting them and their loved ones infected. I don’t see any economies really ‘opening up’ until midway through next year. I hope I’m wrong though
It’s only because OPEC countries won’t want to set a precedent that if it’s not in your interest then do what you want. Goes against the whole principle of working together. But Saudi and Russia hardly has any place to talk
I agree to some extent here. However oil prices are their lowest in decades. Wouldn’t it make sense for Mexico to cash in on this hedge and join the cut? Especially if a deal will be made regardless of their participation
G20/OPEC WILL release a statement today with effective numbers and agreement. A lot of these countries rely on the oil industry to boost GDP and provide jobs. Mexico may be trying to f*ck it up but I think a statement later today before oil futures open will provide a bit of clarity for the market. It’s in everyone’s interest now to do this (except Mexico) be patient and don’t listen to rumours.