The heart wants what the heart wants, but like the Shadow, the market knows what the market knows, and markets are impatient. The next formal OPEC meeting is in June and there are some who believe that OPEC will wait until then to deal with the imbalance in the market between supply and demand. OPEC may want to wait but it will be the price set in the market that will dictate this calendar.
Picture if you can a patient in a hospital who had been very ill but now is getting better. The hospital is reluctant to fully release the patient but knows they have to do something. Remember, the patient with the initial help of the hospital is well on his way to recovery.
The New York Times quotes Larry Goldstein and Trisha Curtis in “Bakken Crude, Rolling Through Albany” on February 27, 2014.