- Nov 19, 2014
- 9,333
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It's Sunday nite and crude oil has fallen to about 30 bux a barrel and could be headed lower. 10yr treasury trading at 1/2% and stock futures are limit down. Russia refused to go along with an oil output cut at the OPEC+ meeting on Friday so the Saudis have decided to say if that is how you want to play, we will up our production. Russia may think they are being shrewd but being that Saudi Arabia can get a barrel of oil out of the ground at a significantly lower price to the Russians, me thinks that there will be a second thought in the near future.