Friday, December 2, 2016

Climateer Line of the Day: Oil Realpolitik Edition

Today's winner of the prestigious CLoD is former Saudi Oil Minister Ali al-Naimi:
"The only tool they have is to constrain production," the 22-year Saudi oil minister Ibrahim Al-Naimi told an audience in Washington at the Center for Strategic and International Studies think tank. "The unfortunate part is, we tend to cheat," he said.
-Washington Examiner, Dec. 2, 2016 

The futures are trading 'heavy', here's Brent but the pattern is similar in WTI:


Brent is trading at $54.09 up 15 cents, WTI $51.35 up 29 cents.