Note

Oil news and market movers: OPEC production cuts are necessity

setleme
· Views 15



  • This week's US stockpile data revealed that the US is restocking at a ferocious pace. Data from the American Petroleum Institute and the Energy Information Administration pointed to a substantial build in stock.
  • At 18:00 GMT, the weekly Baker Hughes Oil Rig Count will be published. The previous reading was at 503.
  • OPEC has no choice but to prolong current production cuts if it does not want to trigger a substantial nosedive move in Crude prices. 
  • A significant part of the Libyan Oil supply came back online after protests ended at one of its major Oil fields. 


Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.

Content related