Stars Foretell OPEC Meet In Doha Freezing Oil Production May Fizzle Out

Stars Foretell OPEC Meet In Doha Freezing Oil Production May Fizzle Out

This is with Reference to my earlier Article”My Article “Global Economy Meltdown Inevitable Due to Oil Glut in Oct. 2016″ In THE PLANETS& FORECAST April 2016” link https://www.astrodocanil.com/2016/03/2914/ Dated 14th March 2016

“Oil-producing countries are to meet in Qatar on Sunday to discuss a plan to freeze output but their gathering comes as nations like Iran rapidly ramp up their pumping” link http://www.usnews.com/news/business/articles/2016-04-16/surging-oil-production-low-prices-to-challenge-doha-meeting.

As they meet this weekend to wrestle with a global supply glut, major oil-producing countries face a long-term threat of “peak demand” for crude that will complicate any effort to agree on production discipline.

Members of OPEC and major non-OPEC producers meet in Doha, Qatar, on Sunday to pursue an agreement on a production freeze that is being promoted by Russia and some Gulf states as a way to help re-balance markets and bolster prices.

,” Saudi Arabia has said it will only cap its output if Iran follows suit — a notion Tehran has dismissed as “ridiculous.”

Don’t get your hopes up ahead of oil’s ‘most important meeting of the last three decades’ http://www.businessinsider.in/Dont-get-your-hopes-up-ahead-of-oils-most-important-meeting-of-the-last-three-decades/articleshow/51832189.cms

Major oil players will be gathering together to discuss a potential production freeze on Sunday, April 17 in Doha, Qatar, in what some analysts have called “the most important meeting of the last three decades.”

Analysts have been hoping for a coordinated move ever since mid-February when Saudi Arabia, Russia, Venezuela, and Qatar agreed to freeze production at January levels if other producers joined in.

Since then, several states, including the relatively-better-off Gulf Cooperation Council members Kuwait and the United Arab Emirates, expressed willingness to support the deal.

However, others weren’t as supportive: Most notably, Iran’s oil ministerBijan Zangeneh previously called the idea to freeze production “a joke.”

Plus, not everyone is planning to attend the Doha meeting. Libya said it’s not going. Whether or not Iran actually shows up is a bit fuzzy after reports on Wednesday suggested that Zangeneh doesn’t plan on attending the upcoming Doha meeting, but will instead send a representative.

In light of all of this, analysts aren’t exactly feeling optimistic about the meeting’s outcome.

“We have muted expectations for any meaningful impact on crude fundamentals from the April 17th Doha meeting.Practically, implementation of any accord that is reached would be so difficult that we view anything beyond foregoing splashy growth in 2016 as too optimistic,” a Macquarie Research team led by Vikas Dwivedi argued in a note to clients.

The commodities research team at RBC Capital Markets headed by Helima Croft also voiced doubts about the meeting’s outcome.

“As it stands now, we believe that the most likely outcome is that producers fail to close the deal and announce a freeze on Sunday, but that they instead pledge to continue to conversation and even possibly put an additional OPEC/non-OPEC meeting on the calendar for later in the year,” Croft wrote.

“…Saudi Arabia and Iran do not appear ready to give sufficient ground to get a comprehensive freeze agreement done by Sunday, given current information,” she explained.

“In order to get a breakthrough, we would likely need to see Saudi Arabia move beyond an outright insistence that Iran freeze production at current levels and/or for Iran to agree to a production ceiling that falls well short of their current 4 mb/d negotiating stance.”

However, Croft also added that given that the majority of oil producers, including Russia and the aforementioned relatively-better-off GCC states, want a deal, their team can’t entirely rule out anything.

But, even if some sort of deal is reached, it may not even have a huge impact.

“In the event an accord is reached, there will be very little impact on global crude supply/demand balances,” Dwivedi’s team wrote.

“The return of OPEC to country-level quotas replacing the current ‘free-for-all’ strategy is viewed as broadly positive, as is the elimination of the KSA/Iraqi production growth tail risk. However in light of the production growth already achieved in January by OPEC members and Russia, an accord will not significantly impact crude S/D balances,” they continued.

Notably, in the background of all of this, it seems like global production isfinally starting to cool down.

Credit Suisse’s Ed Westlake and Jan Stuart shared a chart on Wednesday showing that showing that global oil production excluding Saudi Arabia slowed to approximately 83 million barrels per day in 2016, from about 84 million in mid-2015.

Although, the US Energy Information Administration‘s latest data showed that total world production is up to 96.27 million barrels per day in 2016, up from 95.76 million bpd in 2015.

In any case, analysts will be keeping their eyes and ears open for any news of possible coordination at Sunday’s meeting.

WTI crude is trading higher by 0.4% at $41.93 per barrel and Brent crude is up 0.5% at $44.39 per barrel as of 11:52 a.m. ET.

Now Read this ——Oil falls ahead of Opec; US data disappoints and China fears mount – as it happened http://www.theguardian.com/business/live/2016/apr/15/china-growth-rate-gdp-markets-credit-debt-business-live

Crude pares losses as weekly US rig count falls

The number of oil rigs drilling in the US dipped last week for the fourth week in a row, according to the regular survey by Baker Hughes.

Oil rig numbers dipped by 3 to 351, the lowest level since November 2009, while the number of gas rigs was unchanged at 89:

Following the news, Brent crude is down 1.7% at $43.08 a barrel, ahead of the key meeting in Doha over the weekend when oil producers will discuss possible production freezes.

The meeting is going to be held in Doha on the 17th April 2016 , although the time of the meeting is not known but generally speaking such meeting start between 10.00 am to 11.00 am . Irrespective of the exact time which is not depicted any whereI will Predict as per the Panchanga .

Let me first See the Panchang of the Day

Day is Sunday and the Lord is Sun and Exhalted , its Lord Mars is Placed in the 8th house from it and in Stationary Mode and will turn in Retrogression mode at 15.15 hrs  A Stationary Planet is very strong and is supposed to be 3 times stronger than its Normal Strength . Normally whan a Planet is in Stationary mode it suggests Status Quo Status, hence no Feezing  of Oil Production

Tithi SP-11

Nakshatra  Magha  Nakshatra number 10  loss in the Results of the meeting due to the West Direction , Nakshatra Lord is Ketu and in Forward Motion in the sign of Aquarius the significator of Oil will turn the Tables and Failure of the Event 

Yoga  Viddhi

Karna  Vishti  Malefic  for Fructification of the Purpose of the event 

Special Parameters on Sunday at the time of the Meeting in Doha 

Rahu in Forward Motion, Mars In Stationary, Moon with Rahu and Jupiter in Leo sign aspected by Saturn , Saturn aspects Jupiter almost degreewise .

Karka for Oil Saturn and Sign Aquarius and Pieces , Saturn with mars Stationary , Hence Status Qou and hence no Freezing of oil Production . i t will remain Volatile.

Day Lord Sun is Exhalted but the dispositor is in the 6/8 axis with Sun and also Stationary mode and about to go in Retrogression mode , hence will stall the Results of the meeting . The Kingly People and Kingly Countries will not be able to adhere to the meeting and any decisions Taken. Theeffects of the meeting going hay wire will be seen after 21st April 2016 with magnitude

As per Vypar Ratna  The Significator of Oil is Saturn and the Sign is Aquarius  Mars and Neptune also influence Oil and Oil companies,Since both are influencing the sign Aquarius and in special mode there may be sudden fall in the Prices of Oil after 21st April 2016 and in the Month Of May 2016 it could Prove Fatal .

26th April 2016 Rahu will ingress Scorpio navamsha and join Mars in Scorpio navamsha , will be crucial for Oil Prices

7th May Paksha Kundali 4 Planets Mercury, Venus, Sun and Moon in Aries and their Dispositor in the 8th from Aries and with Retrograde Saturn  and Jupiter in Rahu ketu axis and aspected by Saturn , Crucial month for Financial Stagnation

From the Above it seems there will be no success for the meet for Freezing the Oil Production The conjunction of Mars and Saturn in Scorpio till 18th Sept 2016  will not allow the production of Oil Production to be Freezed . 

There are no texts available on Oil Predictions , I have used the Panchang Parameters and the Significators of Oil to give the Rough Predictions. My Failure of above Predictions should not be taken as failure of Astrology

I have tried to get the exact time of the event today in Doha but failed to get the same , in the absence of the same the exact Predictions cannot be made but due to some other parameters mentioned above it seems there will be fall in the Oil prices after 21st April and more so in 1st week of May 2016 till Mars Crosses the Pieces sign after Feb. 2017 

Jyotish Acharaya anil aggarwala 16th April 2016 22-00 hrs  

Email astrodoc.vedicastrology@gmail.com

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