WTI Hits Four Year Low

by George Belekos, KPI Bridge Oil
Tuesday November 25, 2014

WTI reached a four year low today as OPEC member countries have been unable to reach an agreement prior to their meeting on Thursday. 

Speculators are trying to signal to OPEC that if they do not reduce production they will continue to penalize them with lower prices. 

Talk is that if a 2 million barrel production cut is not made the market will continue to decline. 

Our expectations are for a production cut to be announced but not adhered to by members. 

This will provide a short term bounce for crude oil prices with a longer term trend for prices to continue to decline. 

With the holidays coming up and expectations of volatility buyers should not hold on to stems expecting lower prices because it is going to be a bumpy ride.

About KPI Bridge Oil

KPI Bridge Oil is one of the world's leading international bunker broking and trading firms. With a network of offices that covers every major time zone, we have an in-depth knowledge of ports and bunker markets around the world. Our access to real-time market information and long-established credit lines with suppliers means we use our buying power in the right place and at the right time. All this ensures our customers enjoy competitive prices - and on favourable terms.

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