Actionable news
0
All posts from Actionable news
Actionable news in COP: CONOCOPHILLIPS,

Doha Is Done: Saudi Prince Drops Bomb - "No Deal Without Iran...We Are Selling At Every Opportunity"

In what appears to be a Doha party-pooping statement, Saudi deputy crown prince Mohammed bin Salman stated unequivocally that The Kingdom won’t restrain its oil production unless other producers, including Iran, agree to freeze output at a meeting this weekend in Doha. This a major problem because - if you remember - this week's melt-up in oil (and thus stocks) was predicated on an anonymous diplomat cited by Interfax saying a deal will get done without Iran (which the Russians refused to confirm). All that hope crushed by a reality that has been painfully obvious that no side will be given in the Iran-Saudi tete-a-tete... and now, as Citi warned "expect a sharp sell-off."

As Bloomberg reports, the world’s biggest crude exporter would cap its market share at about 10.3 million to 10.4 million barrels a day, if producers agree to the freeze, Prince Mohammed...


More