Through the looking glass yet again.

[MGKrebs]

"...OPEC agreed Thursday to raise output by 2 million barrels a day.."

"...also promises to add another 500,000 barrels a day starting Aug. 1."

"...we will be able to test the impact of the policy on the oil market"

"This is bullish," said Nauman Barakat of brokers Refco in New York. "The perception in the market is that we've been short-changed. This could wave a red rag to the bulls."

"The deal lifting formal group output limits by 8 percent to 25.5 million barrels daily was a disappointment for those expecting OPEC to deliver more..."

"The official details are unlikely to make a lot of difference to actual supplies from the cartel that controls more than half the world's oil exports.

That's because group output already is at or above its new quota limits."


Does this make ANY sense???


http://money.cnn.com/2004/06/03/news/international/opec.reut/index.htm?cnn=yes