Tuesday, June 14, 2016

OPEC is more politics than action

OPEC has always been political and usually they do not really do what they say. You had many announcements from OPEC and then the people go home and do what they want, whatever is good for their own country. You certainly have more and more disagreements now because what is good for Iran is not necessarily good for Saudi Arabia and they are rivals anyway. But then you have Nigeria whose production is down by nearly half because of their own internal military problems.

Jim Rogers

Warren Buffett

Nouriel Roubini