Brent Dips below the $80/bbl for the First Time Since 2010

by Tim Bonett, KPI Bridge Oil
Wednesday November 12, 2014

Brent limboed below the $80/bbl line for the first time since 2010 today. 

There is concern that even if OPEC decides to cut output the reduction will not be enough of an impact on global supplies to stabilize prices.

Members of the group such as Kuwait and Saudi Arabia have resisted calls to cut output and show no signs of changing their tune as the much anticipated Nov. 27th meeting date approaches.

Until there is action taken on curbing supplies there remains little upside to the market.

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