Who else is playing oil before the OPEC meeting in November?

I'm pretty heavy into Imperial Oil right now. I am not sure this is really a safe bet though, given how alot of key OPEC states and associate states (ie Russia) want an exemption from the production cut. Also, Iraq outright saying they won't agree to it is concerning.

>>1600729
I remember when the Saudis said they seeked to divest their economy from oil. Now they're in a deficit that is apparently 15% of their GDP. I don't know the likely scenario for an oil rally at each output decrease they could announce. I know there's a critical percentage increase of crude for each output decrease (such that below this percentage increase, the Saudis would not get rid of the deficit). I haven't seen that analysis though. SA said that Iran and two other countries will be exempt from cuts, which is bearish. Also the chief of ARAMCO said that as supply meets demand, oil will rally within 2017. But as of now, the overall mood is bearish, so I'm going to ride DWTI at least until before the meeting. They could very well meet in November, and not come to a conclusion. I actually think that this will happen. Why Imperial Oil anyway?

>>1600729
OPEC practically never agrees on anything.
>>1600772
They did diversify. Which is why they aren't in chaos like Venezuela is right now.

>>1601073
15% GDP deficit is pretty shit IMO
Do you think they'll agree come the meeting?

>tfw bought oil before drop series

Lost 1000 bucks.
Made it back with election banic though. Wish I had shorted Oil instead. Would've literally made thousands of dollars

>>1601861
>Would've literally made thousands of dollars

You still can. I don't think the down-pressure on oil is over. But don't short a stock. Buy DWTI for maximum gainz.

>>1600729
OPEC is dead, it has been dead for several years already. Iran wont play ball at all, and if oil goes up, shale oil in the US will be profitable and go online again. And the US gives zero fucks about OPECs bullshit.

If I had money lying around, I would buy a couple grand of oil stock for the day that saudi arabia collapses, and profit from the chaos and fear from having the worlds top oil producer descending into turmoil.

>>1602667
SA says that if Iran doesn't play ball, SA will raise output, which would fuck the oil price. Why would you long oil?

finalis bumpacus (bump)