The Doha Dilemma - Prolonging The Agony Deeper & Longer
Submitted by Eugen von Bohm-Bawerk via Bawerk.net,
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Commodities Longs Will "Liquidate In Unison," Driving Bulls Off A Cliff, Barclays Warns
"Energy needs lower prices to maintain financial stress to finish the rebalancing process; otherwise, an oil price rally will prove self-defeating as it did last spring,” Goldman’s Jeffrey Currie recently wrote, on the outlook for crude going forward.
The rally off the lows has largely stemmed from the market’s hopes for an output freeze from Russia, the Saudis, and everyone else who isn’t Iran. Producers will meet in Doha next month to try and hammer out an agreement, but as we’ve documented exhaustively, the whole effort is farcical at best.
An Output Freeze Is Still The Big Red-Herring For Oil
Submitted by Charles Kennedy via OilPrice.com,
The way things are shaping up on the oil price panic barometer, 17 April is now a D-Day of sorts for the industry. It’s the day both OPEC and non-OPEC countries will (reportedly) sit down together in Doha, Qatar, to work towards an output freeze deal.