Jim Ritterbusch - Ritterbusch & Associates

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Last quote by Jim Ritterbusch

The energy complex is slowly succumbing to an opinion that this year's OPEC production cuts have been ineffective. We feel that the (OPEC) cartel has come to a fork in the road in which the current agreement will be abandoned or steps will need to be taken to double down on current efforts by increasing production curtailments.feedback
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May 06 2017 OPEC
The latest quote from Jim Ritterbusch is: “The energy complex is slowly succumbing to an opinion that this year's OPEC production cuts have been ineffective. We feel that the (OPEC) cartel has come to a fork in the road in which the current agreement will be abandoned or steps will need to be taken to double down on current efforts by increasing production curtailments.”. It comes from the GLOBAL MARKETS-Crude rebound eases markets but concerns linger | Reuters article. You’ll find on this page 17 articles with Jim Ritterbusch quoted on topics such as U.S. and FOMC. Jim Ritterbusch has been quoted 24 times in 17 articles.
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Jim Ritterbusch quotes

For now, the line of least price resistance remains to the upside and we will be reassessing this view in light of tomorrow's FOMC statement.feedback

An expiration of more than $1.50 a barrel in the May-June spread today would send off some additional bearish WTI signals.feedback

While a few forecasters may be dusting off some old $20 WTI expectations as a result of the Doha outcome, we expect solid support in nearby WTI at the $35 mark.feedback

From a longer-term perspective over the coming four to six weeks, we still anticipate an ultimate crude price decline to the $26-28 area.feedback

Today's selloff didn't feel like the beginning of a sustained price decline. We feel that this one-month $8-9 price advance simply got ahead of itself with newly positioned longs anxious to accept some profits.feedback

We feel that values could consolidate well into next week or longer, prior to enough momentum shift to force an ultimate $9-10 crude price cut.feedback

Given what is likely to be some high-pitched volatility within global equities this month, we look for a closer connection between oil and the stock market for a few weeks.feedback

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