myrrdin 

(Tentative) Schedule of tomorrows OPEC meeting: Friday, 4 December 2015 10.00 hrs. Opening Session of the 168th Meeting of the Conference Attendance: All OPEC Heads of Delegation and Delegates 12.00 hrs. Closed Session of the 168th Meeting of the Conference Attendance: OPEC Heads of Delegation and the Secretary General 16.00 hrs. Press Conference by the President of the OPEC Conference and the OPEC Secretary General Time is CET (Central European Time). Press Conference will be at 9.00 am Chicago Time. Best regards, Myrrdin

OPEC Unshackled From Quota Could Add Millions of Barrels - Bloomberg Business

Oil slumped to a six-year low after OPEC effectively abandoned its formal production target.

I wonder if the US would allow the Saudis to buy up US shale fields like they let the Chinese recently? Would be an interesting tactic.

Can anyone advise on the pros and cons of trading Brent on ICE vs CL at NYMEX?

Brent is the world Benchmark. It's the old IPE contract now traded on ICE. (Just FYI the ICE matching engine is in Chicago not London). It is financially settled against an index.

WTI used to be the world Benchmark, but as US production has changed it has become a land locked crude. It's technically a "Light Sweet Crude" contract and is traded on NYMEX/CME. It is physically delievered at Cushing OK.

Hence the fundamentals that drive each are very different.

From a trading perspective, both have similar volumes and liquidity.

You may want to take a look at this thread

Does anyone here trade Brent Crude? I've been trying to find what exchange/symbol features Brent Crude futures and I've found them via my broker but they have virtually no volume. Does anyone have the long/skinny on trading Brent Crude contracts?

While drilling rigs and well completions are down, producing wells in ND keep making new all time highs.



https://pbs.twimg.com/media/CVzJ4MpWsAA546s.png:large

ND production is down.

Floating Storage piece... Oil Traders Aren’t Dancing the Crude ‘Contango’ This Time Around

Spot rates for the vessels have subsequently soared to fresh seven-year highs, making it even less viable to horde than it was.

Of course the question I ask myself, is why isn't the contango steeper? Is it just that earlier in the year the market expected the drop in prices to be a short sharp drop, while now we expect it to last a lot longer?

SMCJB 

Floating Storage piece... Oil Traders Aren’t Dancing the Crude ‘Contango’ This Time Around Spot rates for the vessels have subsequently soared to fresh seven-year highs, making it even less viable to horde than it was. Of course the question I ask myself, is why isn't the contango steeper? Is it just that earlier in the year the market expected the drop in prices to be a short sharp drop, while now we expect it to last a lot longer?

Yes

klemenlogar 

Hey guys I am new to this thread. I am active crude oil trader and i would like to share some trades and analysis in here. Is there anyone in here that is active crude oil trader? Best Regards

Hey
I trade Brent & WTI daily, am also involved in physical delivery due to my location.

Am interested in chatting with energy traders like yourself.

Mike

I think you'll find it's more analysis than specific trades but if you have some idea's you'd like to discuss post away.
I personally trade quite a lot of Crude, but all spreads & butterflys. There are other's here who do trade crude outrights and I think quite a few who trade crude options. There's also a lot of people that watch this thread to keep themselves informed on crude fundamentals as it can have significant effect on other things they trade.