Episode 859 • • 1:39:51 - 1:42:02
859: Army of Conquest
Global Oil Markets, Algiers Meeting and Volatility
Oil traders remain skeptical of a potential production freeze agreement between Saudi Arabia and Iran following an upcoming meeting in Algiers. Analysts from Citigroup suggest that the constant rumors of meetings are used to manipulate market volatility rather than effect fundamental changes in supply and demand. Meanwhile, French company Total Oil has acquired a Texas shale firm, signaling the continued struggle of U.S. shale to compete with low global prices.