The Market Yawns After Doha

In the trading pits, oil is down sharply this morning after this weekend’s non-OPEC OPEC meeting.

There’s been a lot of talk about implementing a production freeze, but ultimately, no one could agree on one. The Saudis wanted Iran to go along but the Iranians just got off sanctions so they want to pump at full speed. So for now, there’s no production freeze and world oil should keep on flowing.

Right now, West Texas Crude is going for about $40 per barrel, but it was even lower earlier today.

The market seems to be indifferent. The S&P 500 is currently down about 0.17%. Even most energy stocks don’t seem to care.

Posted by on April 18th, 2016 at 9:53 am


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