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OPEC is "throwing in the towel" - SocGen

Nov. 27, 2014 10:48 AM ETBy: Eli Hoffmann, SA News Editor104 Comments
  • OPEC's decision to maintain its output target is “unambiguously bearish,” SocGen's Mike Wittner says.
  • “This will reverberate for years.”
  • OPEC is saying: “bring on lower prices and let the market do the job of throttling U.S. shale oil growth.”
  • Crude futures -3.7% to $70.97.
  • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, OTC:DWTI, DNO, SZO, OLO, OLEM

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