Bloomberg News

OPEC Indecision Not ‘Bullish’ for Oil, Credit Agricole Says

June 09, 2011

June 9 (Bloomberg) -- The Organization of Petroleum Exporting Countries’ failure to agree on production quotas at its meeting in Vienna yesterday isn’t “particularly bullish” for the oil market, according to Credit Agricole SA.

Members, including Saudi Arabia, will now be able to increase production by as much as the market needs, Christophe Barret, London-based oil analyst, said today in the report.

To contact the reporter on this story: Rachel Graham in London at rgraham13@bloomberg.net

To contact the editor responsible for this story: Raj Rajendran at rrajendran4@bloomberg.net


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