OIL PRICE FORECAST: Oil Recovery Now Up 7%+ from Last Week’s Lows with $80 a Barrel Now in Sight. Speculation Continues to Mount Around Further Supply Cuts from OPEC+ as the Organization Meets Later this Month. Technical Hurdles Ahead May Prove Insignificant as Sentiment and OPEC Concerns Keep Bulls Interested. To Learn More About Price
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Share: Oil prices are likely to settle around $80/bbl, strategists at ANZ Bank report. Saudi Arabia may extend cuts as Oil market tightness eases Tightness in the Oil market has eased as growth in non-OPEC supply has more than offset strong demand. A balanced Oil market now remains reliant on production cuts being
OIL PRICE FORECAST: Oil Struggled in the European Session as Market Participants Weighed the Prospects of the US-Venezuela Deal. OPEC Remains Silent Following Iran’s Calls for an Oil Embargo. IG Client Sentiment Shows Traders are 68% Net Long on WTI. A Sign of Further Downside Potential Given the Contrarian View to Client Sentiment Adopted at
OIL PRICE FORECAST: Most Read: What is OPEC and What is Their Role in Global Markets? Oil prices have held relatively steady through the European session following the gap in prices over the weekend. WTI closed last week at $82.74 a barrel before opening last night around the $85.00 a barrel mark as the turmoil
According to Reuters, 4 sources are saying that: OPEC+ ministerial panel unlikely to recommend output policy change at October 4 meeting This is as expected. This article was written by Greg Michalowski at www.forexlive.com. لینک منبع : هوشمند نیوز
Share: US oil took a small hit on Friday, but is rebounding firmly to hold $90/bbl. OPEC production cuts are squeezing crude prices into the ceiling. The next hurdle for buyers will be pushing crude into $100. West Texas Intermediary (WTI) US crude oil hesitated in Friday trading, dipping to $88.60 per barrel before
Oil (Brent Crude, WTI) News and Analysis OPEC maintains 2023/24 oil demand growth and economic growth forecasts Brent crude oil receives lift after the news but reenters oversold territory WTI oil attempts to push higher – US EIA short-term Energy Outlook due later The analysis in this article makes use of chart patterns and key
OPEC+ supply restrictions were extended, and U.S. oil and cloth both hit more than nine-and-a-half-month highs. Saudi Arabia and Russia’s strategy to further deplete inventories is being felt across the oil market. The December-December spread for West Texas Intermediate crude, favored by oil hedge funds, rose to its widest level since late 2022. Brent, the
Oil (WTI, Brent Crude) Analysis OPEC’s demand forecast suggests tight oil market into year end Brent crude oil pulls back from resistance as bullish momentum subsides WTI crude oil tests trendline support on latest dip The analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit
