The Wall Street Journal quotes an oil analyst at Natixis
- " ... an extremely bearish scenario ... we will probably see a knee-jerk reaction on the market"
- "Prices could touch $30 a barrel within days"
He is referring to the Doha weekend meeting of oil producers where no agreement to 'freeze' production was reached.
- The failed talks will "seriously hurt investor confidence"
Also, from Ole Hansen, head of commodity strategy at Saxo Bank
- "OPEC has once again been high on promises but low on delivery as politics once more got in the way"
The WSJ article is here, may be gated: Oil Prices Set to Fall After Producers Fail to Reach Deal at Doha
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