{"id":1337,"date":"2014-11-10T07:05:22","date_gmt":"2014-11-10T12:05:22","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1337"},"modified":"2014-11-10T07:05:22","modified_gmt":"2014-11-10T12:05:22","slug":"bullish-oil-wagers-cut-in-sign-of-growing-opec-skepticism-bloomberg","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1337","title":{"rendered":"Bullish Oil Wagers Cut in Sign of Growing OPEC Skepticism – Bloomberg"},"content":{"rendered":"

Bullish Oil Wagers Cut in Sign of Growing OPEC Skepticism – Bloomberg<\/a>.<\/p>\n

Speculators are the least bullish on U.S. crude in 20 months as they lose faith in OPEC\u2019s willingness to ease a global supply glut.<\/p>\n

Money managers reduced net-longpositions<\/a>\u00a0in West\u00a0Texas<\/a>\u00a0Intermediate by 8 percent in the week ended Nov. 4, U.S. Commodity Futures Trading Commission data show. Long positions retreated to the least since May 2013 while short holdings rose.<\/p>\n

WTI tumbled into a\u00a0bear market<\/a>\u00a0this year as crude supply expanded from the U.S. toLibya<\/a>\u00a0and demand sputtered from\u00a0Europe<\/a>\u00a0to\u00a0China<\/a>.\u00a0Saudi Arabia<\/a>\u00a0cut its export charges to the U.S. this month, signaling a preference for market share over prices. The kingdom accounts for almost a third of OPEC\u2019s output and the 12-nation group meets in about two weeks to debate supply.<\/p>\n

\u201cThe market needs some OPEC action and the only thing we get out of the Saudis is the price cut to the U.S.,\u201d\u00a0Michael Lynch<\/a>, president of Strategic Energy & Economic Research in Winchester,\u00a0Massachusetts<\/a>, said by phone Nov. 7 \u201cThat makes people think \u2018Gee, this doesn\u2019t look hopeful.\u2019\u201d<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Bullish Oil Wagers Cut in Sign of Growing OPEC Skepticism – Bloomberg. Speculators are the least bullish on U.S. crude in 20 months as they lose faith in OPEC\u2019s willingness to ease a global supply glut. Money managers reduced net-longpositions\u00a0in West\u00a0Texas\u00a0Intermediate by 8 percent in the week ended Nov. 4, U.S. Commodity Futures Trading Commission […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[588,596,701,996],"class_list":["post-1337","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil","tag-oil-supply","tag-saudi-arabia","tag-us-crude"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1337"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1337\/revisions"}],"predecessor-version":[{"id":1338,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1337\/revisions\/1338"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}