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Nairaland Forum / Nairaland / General / Business / Oil Price Jumps On Russian And Saudi Agreement (781 Views)
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Oil Price Jumps On Russian And Saudi Agreement by NavierStokes(m): 3:45pm On Sep 05, 2016 |
Source: http://www.bbc.com/news/business-37276710 Ladies and Gents, here comes the beginning of the end of this round of bust. With the current fundamentals as well as the state of things geopolitically, we will experience some northwest-ward movement on the price quantity plane. The rebalancing continues but will proceed at a relatively accelerated rate. Let's see them put ink to paper, and everything else follows. Cc: lalasticlala OAM4J Mynd44. 1 Like |
Re: Oil Price Jumps On Russian And Saudi Agreement by Donexy16(m): 3:54pm On Sep 05, 2016 |
Good moves. They just woke up now from a long slumber |
Re: Oil Price Jumps On Russian And Saudi Agreement by NavierStokes(m): 3:57pm On Sep 05, 2016 |
Donexy16: Prisoners dilemma bro, prisoners dilemma, everyone does what seems best for themselves at the expense of the overall group (detriment of the market). |
Re: Oil Price Jumps On Russian And Saudi Agreement by Donexy16(m): 3:58pm On Sep 05, 2016 |
NavierStokes: Break it down please... |
Re: Oil Price Jumps On Russian And Saudi Agreement by NavierStokes(m): 4:07pm On Sep 05, 2016 |
Donexy16: Okay bruv, basically With the supply kept at current levels (production freeze) or reduced levels (production cut) or natural decline due to the severe cuts in capital spending across the industry (production cut), we will experience a westward move of the market supply's curve, also IEA predicts growing demand (slow but at least still a growth), we will see a rightward adjustment of the demand curve. Overall the market experiences a northwest movement of the equilibrium position, this is a higher price for the commodity, although some reduced volume in the market. The rate at which the equilibrium will be stained will be influenced by how fast the storage at Cushing, China's secret stock tanks etc are depleted. There's a lot involved in moving these curves but the overall effect is what I've just described. 1 Like |
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