The Traderszone Network

Published in TZ Latest News 23 May, 2017 by The TZ Newswire Staff

Why China’s Strategic Petroleum Reserve Is All That Matters For OPEC

When OPEC sits down on Thursday, keeping the price of Brent above $50 (to avoid a budget catastrophe and social upheaval in Saudi Arabia) and below $60 (to prevent US production from going exponential), will be just one problem the cartel nations and various hangers-on will be desperate to solve. A much bigger one, literally, is the problem that led to this week’s OPEC meeting in the first place, and years of headache for OPEC and non-OPEC nations: a record global oil inventory glut.

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