Has OPEC lost its pricing power? Is it no longer a swing producer? Is the world big enough for two swing producers?
On the day of the OPEC meeting, Bill Hubard, Chief Economist at Trade.com seeks answers to the pressing questions from Stephen Pope, Managing Partner of Spotlight Group.
Pope believes the OPEC could offer a positive surprise via deeper cuts or longer cuts (12 month extension) although he is not sure whether it would lead to a sustained break above $60 levels in the oil prices, given the US is considering offloading 50% of its Strategic Oil Reserve.
Watch the full segment as Pope shares his view on –
Precious metals – Gold & Silver