CVN 1.59% 31.0¢ carnarvon petroleum limited

how high will she go

  1. 1,137 Posts.
    "Opec will not increase production"
    The mainstream commentary / market still does not question this. The assumption is taken then that Opec merely has to decide and then oil production can be increased.

    Case can be given that

    - they have been pumping for all they are worth since US$50 barrel
    - their recoverable reserves could be incresed if extraction rates were slowed
    - their increasing domestic demand is reducing oil for export at a far greater rate than depletion alone.

    There may not be a linear relationship between CVN / oilers SP and US$ barrel, but it surely falls on the positive side of the fence. Just wait till OPEC come clean.
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