The Rokslide Stock Traders Thread

[BBob]

What are the thoughts on UAE leaving opec? My quick research seems like this will be a good thing long term? Anything I’m missing?

My first reaction is that will likely reduce oil prices and increase volatility in the oil market which is the opposite of what OPEC is all about. OPEC strives to keep oil prices stable but higher by balancing production to price. The tendency has been to suppress production to keep oil prices higher. With an independent UAE they can pump all the oil they want without the Saudi's telling them what to do. UAE production is a pretty small portion of OPEC so maybe the effect will be minimal. Time will tell if it'll be good or bad. Gotta wait til the Iran thing gets settled.

 

[Theringworm]

Finally pulled the plug and sold out of PR. It was a long rewarding ride, but I won’t let greed get the best of me.