Oil Prices

[Clement]

Exactly, Clement!
Initially the news says "freeze increase", "meeting to discuss limiting production" etc - means not to increase the production rate.
Recently, so many are saying "freeze production", "meeting to discuss freeze production" - this sounds a lot like stop pumping at all.
It's as if to create unnecessary misunderstandings to make the oil price more volatile; to create a traders playground.

Saudi, Russia are all pumping at historical high. So even if they "freeze" increase in oil production, we are still having oil production at historical high rate.

But I don't agree with the ceasefire when you've run out of bullets part. It's more like "all right,we are going to shoot at each other at constant rate, no more increase!"

I think that the production freeze / ceasefire is a sign that they have run out of easy ways to increase production, hence a lack of "bullets" in the market share game.

If you look at the latest OPEC monthly report, total opec production has fallen in Feb despite a production increase by Iran.