This is game theory 101. Basically it is Trump telling SA, if you increase oil productions by 1.5 M, we will sanctions Iran. And so SA played this game with Trump. After OPEC meeting, the market is calling the bluff of OPEC. It is like Poker, where SA is saying OPEC is increasing production substantially , but it is likely production increase will be very little , and will not be sufficient to offset disruption going on everywhere from Venezuala, Libya, Angola, Nigeria and with Iran looming.
Your salary and your team salary is too high. - Trump
Yes boss, we will work more by 10% and ask everyone to cut our salary by 10% - OPEC.
I really read with amusement when many analyst articles state stupid comments about what is going on - that SA is heeding Trump's call to increase production and trying to bring down oil prices.
Call their bluff. We will see $90 oil by end this year and spike $130 oil next year if Iran sanctions begins.
Your salary and your team salary is too high. - Trump
Yes boss, we will work more by 10% and ask everyone to cut our salary by 10% - OPEC.
I really read with amusement when many analyst articles state stupid comments about what is going on - that SA is heeding Trump's call to increase production and trying to bring down oil prices.
Call their bluff. We will see $90 oil by end this year and spike $130 oil next year if Iran sanctions begins.
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