Mississauga, ON -- (SBWIRE) -- 11/17/2016 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Torchlight Energy Resources, Inc. Up 15% on Bullish Energy Sector Sentiment."
Companies mentioned in this article include Torchlight Energy (NASDAQ:TRCH).
Crude Oil is up 1.54% today, while the S&P500 climbs up by a modest 0.19%. This all as the Saudi Arabian oil minister said that OPEC may reach a deal to curb output. Oil futures showed gains on Thursday after those words were echoed. Oil prices globally have been seeing declines as a result of news of rising global crude oil supplies. Now, OPEC is trying to get a deal to cut production to around 33 million barrels a day from highs of 33.83 million in October.
However, some OPEC countries have asked to opt out of the deal. Iraq, for example, says it needs to produce at will to fund its war against ISIS in the north. With Trump's win, some quarters hope for a more proactive approach towards American involvement in the Middle East, while others think that involvement will be cut down. Despite this confusion, and the at least 3 or 4 wars running simultaneously in that area of the world, it is interesting to see how OPEC will reach a cut back agreement. If it does, oil prices will hold at these levels in the most conservative view.
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