OPEC Needs a “Whatever It Takes” Moment at November Meeting (Video)

By EconMatters

We compare the European Bond crisis and how Mario Draghi brought out the big Bazooka, and blew the bond shorts out of the bond market, and we think OPEC needs to blow away expectations at this upcoming November Meeting.

Right now there is a short premium in the oil market taking money out of OPEC`s pockets. Saudi Arabia isn`t going to make it on another year of $45 oil, their economy and budgetary requirements needs to get the price of oil much higher, and they can start by doing “Whatever It Takes” at this November OPEC Meeting in a couple of weeks.

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