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Analysts Respond To Doha Meeting Failure: “Blow To Sentiment”
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
zerohedge.com / by Tyler Durden on 04/18/2016 – 07:02
Failure to proceed with crude output freeze plan seen as a “serious blow” to oil-market sentiment by Energy Aspects; Barclays expects mounting tensions between Saudi Arabia and Iran to boost volatility. Separately, Kuwait oil workers strike viewed as price-supportive. Here, courtesy of Bloomberg, is a summary of what analysts have said so far on meeting’s outcome as well as comments on Kuwait:
Barclays analysts including Miswin Mahesh
- Meeting was a “complete failure” in terms of building trust among producers regarding future action; shows how hard it would be to ever coordinate production cuts; Event exposed “political rift” between Saudi Arabia and Iran
- “The uncertainty in the market with regards to the next meeting and the developing geopolitical backdrop with regards to Iran and Saudi Arabia, will continue to lead to oil market volatility”
- Also says that a protracted oil-worker strike in Kuwait would tighten physical oil markets significantly
Energy Aspects analysts including Amrita Sen
- Failure of talks is “serious blow” to sentiment even if freezing would have had little impact on supply/demand balances
- Though prices may slip below $40/bbl in “knee-jerk reaction” Monday, selloff could be mitigated by news of Kuwaiti output losses
- Saudi demands over Iran’s participation in any potential freeze deal “hints at influence from either domestic or regional politics”
The post Analysts Respond To Doha Meeting Failure: “Blow To Sentiment” appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/04/18/analysts-respond-to-doha-meeting-failure-blow-to-sentiment-2/
