Brokers and Brokerage

by Freddie Mooche

Business Brokerage When OPEC members met recently in Cairo they came away saying they would cut oil production to raise crude prices by starving the market.

By Voanews OPEC oil ministers have agreed to prop up sliding oil prices by cutting production by one million barrels a day. If you would like to receive late breaking news on oil & gas stocks covered by AXcess News then you need to subscribe. By joining, box first.Print This Page Dec 10, 2004 (AXcess News) OPEC oil ministers have agreed to prop up sliding oil prices by cutting production by one million barrels a day.

Forex Broker If you would like to receive late breaking news on stocks covered by AXcess News then you need to subscribe. By joining, you can stay ahead of the pack and receive the latest news in your email in-box first.Print This Page

to do with fundamentals. According to him, oil supplies are adequate, Saudi Arabia’s production capacity is increasing on schedule, and a potential OPEC production increase will be on the table December 5 at a meeting of oil ministers. He further maintains that OPEC has very little direct control over the price of oil, which is influenced by a myriad of market forces (such as OPEC supply, the U.S. dollar and geopolitical tension), and has not

Online Brokerage Dec 14, 2004 (AXcess News) New York - When OPEC members met recently in Cairo they came away saying they would cut oil production to raise crude prices by starving the market.

. (EUNN) OPEC President Edmund Daukoru said in an interview with an Italian newspaper Saturday that he wants OPEC to maintain oil production at its current levels, dispite a surplus of supply. "There is a 2.5 million barrel per day surplus of oil supply on the market currently. However, the preferred solution would be to maintain production at the current levels, " Daukoru said.

Real Estate Broker The move has worked, crude oil futures rose above $41 a barrel Monday with analysts and traders watching OPEC's moves closely. Some believe OPEC members were focused too much on the middle east stock exchanges that had been boasting gains for months when oil's price decline began eroding all of that increase. "What a coincidence", remarked one trader.

And. And if you are in doubt over "supply concerns", look at the EIA data and the fundimentals. Oil was over supplied to the markets for roughly the 2 years following Hurricane Katrina's strike to the Gulf of Mexico because of the appearance that Oil production from the Gulf would have created a real supply disruption. OPEC over supplied the markets to compensate and then some and after that 2yr period, OPEC returned their production back to "normal".

Agency Brokerage Spark As analysts view OPEC cutbacks as taking weeks to reach global markets, OPEC members have stated that additional cutbacks could be in store. Some say the independence middle eastern countries are developing through the privatization of industries there that are going public on those stock exchanges is shifting their focus and may be influencing their cutbacks.

The world is not running out of oil! The biggest threat to the future of supplies is the lack of spare production capacity worldwide, warned Saudi Arabia’s oil minister, and Libya’s National Oil Corporation admitted that there was little more oil the OPEC could pump in case of a shortfall, confirming that there is not enough spare capacity to help. Shortfalls are caused by oil rich countries such as Nigeria, Kuwait, Venezuela, Iran and Iraq, where politics has stymied production growth.

Business Broker If OPEC members are deliberately cutting back production to fill their already bulging bank accounts then they may find the market won't play ball and raise prices to quickly due to supply levels being high enough to sustain the U.S. through the coldest period of the year.Oil prices are over $15 less than its high of $55.17 that it hit two times in October.OPEC ministers had said that the one million barrel a day cutback would not start until January 1. But earlier Monday Kuwait's Sheik Ahmed Fahd Al Ahmed Al Sabah said they would starting cutting back today.Advertisement

Brokerage Account Kuwait's oil minister may have let the cat out of the bag as other OPEC members are sure to break stride as well and begin cutting back production before the agreed upon date - and even increasing those amounts. According to the U.S. Department of Energy, home heating prices would cost 34 percent more than a year ago and that commercial stockpiles of heating oil were below 2003 levels, which has put traders on alert as they watch the U.S. weather situation closely. Though terrorist activities are also playing their role in limiting production and supply. Iraq's Oil Minister Thamir Ghadbhan said saboteurs have attacked pipelines 27 times in November compared to only 2 times in October.While in Russia, oil-giant Yukos is still facing a break up in forced sales by the tax authority there for unpaid income taxes and in China demand outweighs supplies as well as the nation expands its industrialization.AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking news. If you're not a member, consider joining now. Members get the latest business news, commentaries and stock picks delivered right to their in-box.

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