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11.28.2014 OPEC Holds Firm Bookmark

The political game continues folks. Last night OPEC held the line, just as we suggested they would. We didn't feel they'd cut production to halt the price slide, because they've got a handful of reasons not to. First off they don't really like the competition from the US shale producers. They don't like the production from the Russians either. They also like to supply China with cheap oil, because the Saud's and China are becoming more buddy-buddy all the time. Besides, there's been a lot of bickering between the Saud's and the US lately, and poking at stick at the "petro-dollar" feels good to them also.

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