The agreement on freezing the oil output at January levels, which has already received support from a number of countries, is theater and is not meaningful, Arthur Berman, an independent US geological consultant with thirty-seven years of experience in petroleum exploration and production believes.“It has contributed to a sentiment-based rally in crude oil prices over the last several weeks but is otherwise meaningless,” Berman told Trend.
| Gasoline jumped 40 cents a gallon last couple weeks in Chicago. That's some sentiment... |