OPEC Production Cuts are a Joke

OPEC countries are reliant on oil and the cash flows they receive by selling oil at any price.

There will be no agreement to curtail supply. Reality and the incentive to cheat will trump talk and fantasy every time. What’s even more hilarious is that this time around they are inviting non-OPEC producers to cut production. These guys are gold:

LINK: Who Exactly Will Cut?

The oil market seems to be catching on lately as Brent oil is off around 12% from its mid-October highs:

brent