The so called Opec agreement has more holes in it than a collander

Malcolm Graham-Wood Independent Analyst

With Brent expiring at the close of business tonight there was little incentive to push it through 50 bucks yesterday and sure enough it peaked at $49.81 and drifted off to the close. Given that the so called Opec agreement has more holes in it than a collander i’m surprised that both crudes did so well on a day that they started looking understandably wobbly. It does seem that the parties that I mentioned yesterday appear to have carte blanche to produce what they like thus making the deal unworkable as it stands.

Author

Malcolm Graham-Wood

Independent Analyst

Malcolm Graham-Wood started his City career as a trainee analyst at Wood Mackenzie and then cut a swathe through a number of broking houses, all the time building up his knowledge and love of the upstream oil and gas industry incl

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