{"id":15339,"date":"2017-05-25T19:23:38","date_gmt":"2017-05-25T23:23:38","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=15339"},"modified":"2017-05-25T19:23:38","modified_gmt":"2017-05-25T23:23:38","slug":"opec-extends-output-cuts-but-caught-in-a-pincer","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/","title":{"rendered":"OPEC extends output cuts but &#8220;caught in a pincer&#8221;"},"content":{"rendered":"<p><a href=\"http:\/\/www.theage.com.au\/business\/energy\/opec-agrees-to-extend-output-cuts-through-march-2018-20170525-gwdhij.html?promote_channel=edmail&amp;mbnr=MTQyOTU1Nzk&amp;eid=email:nnn-13omn658-ret_newsl-membereng:nnn-04%2F11%2F2013-business_news_am-dom-business-nnn-age-u&amp;campaign_code=13IBU020&amp;et_bid=29079365&amp;name=2033_age_busnews_am&amp;instance=2017-05-25--22-13--UTC\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"alignnone size-full\" src=\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2017\/05\/1495743090427.jpg?w=525&#038;ssl=1\" alt=\"\" \/><\/a><\/p>\n<p>From Stanley Reed at The Age:<\/p>\n<blockquote><p>The Organisation of the Petroleum Exporting Countries extended oil production cuts through March 2018, Khalid A. al-Falih, the Saudi energy minister, said in Vienna overnight. The move follows a decision this month by Saudi Arabia and Russia to do so.<\/p>\n<p>The earlier announcement helped lift prices from a low of $US46. But on Thursday, prices shed more than 4 per cent with more than a billion barrels traded&#8230;.<\/p>\n<p>&#8220;Opec is being caught in a pincer movement of technology and policy that will, over time, erode oil use,&#8221; said Bill Farren-Price, chief executive of Petroleum Policy Intelligence, an advisory firm for hedge funds and other investors. &#8220;This meeting is more about forestalling an oil price collapse than driving prices higher.&#8221;<\/p><\/blockquote>\n<p>Read more at: <a href=\"http:\/\/www.smh.com.au\/business\/energy\/opec-agrees-to-extend-output-cuts-through-march-2018-20170525-gwdhij.html\">OPEC agrees to extend output cuts through March 2018<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>From Stanley Reed at The Age: The Organisation of the Petroleum Exporting Countries extended oil production cuts through March 2018, Khalid A. al-Falih, the Saudi energy minister, said in Vienna overnight. The move follows a decision this month by Saudi Arabia and Russia to do so. The earlier announcement helped lift prices from a low &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;OPEC extends output cuts but &#8220;caught in a pincer&#8221;&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[44],"tags":[898,1451,2571,2911,3096],"class_list":["post-15339","post","type-post","status-publish","format-standard","hentry","category-crude-oil-natural-gas","tag-crude-oil-2","tag-fracking","tag-opec","tag-renewables","tag-shale-producers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>OPEC extends output cuts but &quot;caught in a pincer&quot; - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OPEC extends output cuts but &quot;caught in a pincer&quot; - the patient investor\" \/>\n<meta property=\"og:description\" content=\"From Stanley Reed at The Age: The Organisation of the Petroleum Exporting Countries extended oil production cuts through March 2018, Khalid A. al-Falih, the Saudi energy minister, said in Vienna overnight. The move follows a decision this month by Saudi Arabia and Russia to do so. The earlier announcement helped lift prices from a low &hellip; Continue reading &quot;OPEC extends output cuts but &#8220;caught in a pincer&#8221;&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-25T23:23:38+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/thepatientinvestor.com\/wp-content\/uploads\/2017\/05\/1495743090427.jpg\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"OPEC extends output cuts but &#8220;caught in a pincer&#8221;\",\"datePublished\":\"2017-05-25T23:23:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/\"},\"wordCount\":143,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thepatientinvestor.com\/wp-content\/uploads\/2017\/05\/1495743090427.jpg\",\"keywords\":[\"crude oil\",\"Fracking\",\"OPEC\",\"renewables\",\"shale producers\"],\"articleSection\":[\"Crude Oil &amp; Natural Gas\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/\",\"name\":\"OPEC extends output cuts but \\\"caught in a pincer\\\" - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thepatientinvestor.com\/wp-content\/uploads\/2017\/05\/1495743090427.jpg\",\"datePublished\":\"2017-05-25T23:23:38+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2017\/05\/1495743090427.jpg?fit=620%2C349&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2017\/05\/1495743090427.jpg?fit=620%2C349&ssl=1\",\"width\":620,\"height\":349},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"OPEC extends output cuts but &#8220;caught in a pincer&#8221;\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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Breach would offer a target of 4.0%. Falling long-term yields would be bearish for the Dollar. Breach of 103 on the Dollar Index would offer a target of 100. The weak Dollar is obviously bullish for Gold which has now reached\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"10-Year Treasury Yield","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-11-27-tnx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-11-27-tnx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-11-27-tnx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":53881,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/06\/04\/oil-prices-plunge\/","url_meta":{"origin":15339,"position":1},"title":"Oil prices plunge","author":"Colin Twiggs","date":"June 4, 2024","format":false,"excerpt":"Nymex light crude broke support at $77 per barrel, closing at $74 after a weekend OPEC+ meeting that was interpreted as loosening previous production cuts. China's lackluster recovery has depressed global demand while strong US production boosted supply. But several OPEC+ members are under economic pressure because of weak prices\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Nymex Light Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-06-04-crude.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-06-04-crude.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-06-04-crude.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":13331,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/05\/16\/goldman-cuts-2017-oil-price-forecast-due-to-slower-market-rebalancing-zero-hedge\/","url_meta":{"origin":15339,"position":2},"title":"Goldman Cuts 2017 Oil Price Forecast Due To Slower Market Rebalancing | Zero Hedge","author":"ColinTwiggs","date":"May 16, 2016","format":false,"excerpt":"Goldman Sachs has cut its long-term crude oil forecasts: The inflection phase of the oil market continues to deliver its share of surprises, with low prices driving disruptions in Nigeria, higher output in Iran and better demand. With each of these shifts significant in magnitude, the oil market has gone\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":50117,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/03\/18\/us-gasoline-prices-consumer-sentiment\/","url_meta":{"origin":15339,"position":3},"title":"US gasoline prices &#038; consumer sentiment","author":"Colin Twiggs","date":"March 18, 2024","format":false,"excerpt":"There is a historic link between US gasoline prices and consumer sentiment. The March University of Michigan survey shows consumer sentiment is rising, with the 3-month average at 77.5. Roughly mid-way between peaks and troughs over the past sixty years. But real retail sales also dipped below their long-term trend\u2026","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"University of Michigan: Consumer Sentiment","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-18-uom-sentiment.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-18-uom-sentiment.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-18-uom-sentiment.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":10865,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/11\/no-rebound-in-sight-for-sliding-oil-prices\/","url_meta":{"origin":15339,"position":4},"title":"No Rebound In Sight For Sliding Oil Prices","author":"ColinTwiggs","date":"September 11, 2014","format":false,"excerpt":"From Nick Cunningham at Oilprice.com Brent crude has now dipped below $100 per barrel, for the first time in over a year. WTI is trading around $92 per barrel, a 16-month low. ...The glut of supplies and weak demand is causing problems for OPEC, according to the cartel\u2019s monthly report.\u2026","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61570,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/05\/02\/trade-war-risks-an-oil-price-war\/","url_meta":{"origin":15339,"position":5},"title":"Trade war risks an oil price war","author":"Colin Twiggs","date":"May 2, 2025","format":false,"excerpt":"Summary The threat of a global trade war precipitated by President Trump's tariffs on imports has sent oil prices plunging, anticipating a global recession OPEC+ announced a planned 411,000 barrels per day increase in output in May, three times earlier monthly increments Low oil prices have put the Saudi budget\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"Brent Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-02-brent.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-02-brent.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-02-brent.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/15339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=15339"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/15339\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=15339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=15339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=15339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}