Having short-squeezed crude oil prices higher on the back of a hope-filled statement, the Saudi energy minister just dropped another tape-bomb, warning that "no discussions of substance" have taken place on OPEC production levels, adding that he "does not believe any significant intervention in market is necessary."
- RTRS: SAUDI ENERGY MINISTER AL-FALIH SAYS NO 'DISCUSSIONS OF SUBSTANCE' YET ON OPEC PRODUCTION LEVELS
- SAUDI ENERGY MINISTER AL-FALIH SAID DOES NOT BELIEVE ANY SIGNIFICANT INTERVENTION IN MARKET NECESSARY
- SAUDI ENERGY MINISTER AL-FALIH SAID DEMAND IS 'PICKING UP NICELY' AROUND THE WORLD - RTRS INTERVIEW
And the market's reaction so far... (the earlier bounce was on Iran comments)
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As a gentle reminder:
- OIL AT RISK OF `WASH-OUT' IF OPEC DOESN'T FREEZE: CITI'S MORSE
And it seems stocks are catching on..
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