TD Ameritrade Chief Strategist JJ Kinahan On OPEC Slashing Oil Production: 'We'll See The True Ramifications Over The Next Couple Of Weeks'

Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan said that he doesn’t think OPEC’s decreased projection for crude production in 2015 was that much of a significant lowering.

While he said it did support oil, he wasn’t sure if that was the reason for the rally in oil earlier Thursday. Instead, he thinks the rally was due to more technical reasons.

“Yes, it’s contributing to today’s rally, but the true ramifications of that, we’ll see over the next couple of weeks,” he said.