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Monday, 23 April 01:44 (GMT -05:00)



Stock and commodities markets

Crude Oil After Christmas Holidays


Saudi Aramco, Saudi Arabia’s national oil company, has recently announced higher export prices for all if its Asian importers. Experts say that this move has to do with the fact that the Saudis are getting ready to implement the production cuts according to the Vienna Accord reached by OPEC in December 2016.

 

 

 

 
We remind you that in October 2016, OPEC as well as 11 non-OPEC nations reached an agreement designed to cut their oil production in order to avoid higher oversupply in the market of crude oil and to favor higher oil prices.
 
According to the mentioned agreement, which is also referred to as the Vienna Accord, the Saudis agreed to cut their oil production by as much as 486K barrels a day or 4,61% all the way down to 10,544 million barrels a day, which corresponds to October’s production level. They expect crude oil to get more and more expensive as the parties involved in the agreement implement their part of the Vienna Accord. All in all, the global oil production is expected to be cut by as much as 1,8 million barrels a day.
 
The Saudis are already having talks with their major oil importers in announce a 3-7% shipment cuts and higher prices starting from February 2017.
 

 

If to take a look at the price chart of Brent oil through the eyes of the SRP tool developed by the SRP (AO_Zotik and WPR_VSmark) Department of Masterforex-V Academy, the price is still developing the same ABC pattern of level Daily. There have been no signs of completion so far. The next closest targets of wave C are 59,96 and 69,69 per barrel.

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USA Will Dominate Global Oil Market, IEA Says

Over the next 5 years, the United States will dominate the global market of crude oil. Up to 80% of the global oil demand growth will be covered by American oil companies, Bloomberg reports with reference to the International Energy Agency.

Publication date: 19 April 07:11 AM

Global Trade War Will Push Gold Price to $1400/oz

According to Bloomberg and some other online sources, the global trade war started by Donald Trump will eventually increase the dollar value of gold. In particular, they say that the price of gold may reach the 5-year high in the near future.

Publication date: 04 April 01:21 AM

OPEC Is Ready To Ask American Shale Oil Companies Not To Boost Their Oil Production

According to the Energy Minister of the UAE, the OPEC is ready to start asking American shale oil producers to stop boosting their shale oil production. The statement was made during the International Petroleum Week (IP Week).

Publication date: 06 March 10:29 AM

Shale Oil Threatens with an Oil Market Crash to 2014 Levels

The two years' period of moderately high oil prices is about to be over, the International Energy Agency assumes. They say that the global supply is likely to exceed the global demand, which will push down oil prices, may be even to the levels of 2014.

Publication date: 05 March 03:50 AM

Alpari Signs Up Russian Sportscaster Vasili Utkin

lpari has always been known for partnering with celebrities. This time this major forex brand has teamed up with famous Russian sportscaster Vasili Utkin. The partnership agreement is valid until the end of 2018.


Publication date: 05 March 01:45 AM

Oil Prices Will Be Affected By Geopolitical Risks in 2018

The end of 2017 was clearly positive for oil-exporting nations. For example, Brent oil futures traded at 66,60 dollars per barrels on December 29th. Will the existing bullish trend persist in 2018? 

Publication date: 16 January 06:32 AM

Euro Exchange Rate Reaches Highest Level Since Late 2014

The common European currency keeps on growing driven by the news on the formation of a new German government. The price rally started in 2017. At the same time, experts are getting more and more optimistic about the prospects of the Eurozone and the European Union in general, Deutsche Welle reports.


Publication date: 16 January 01:49 AM

Experts Criticize OPEC+ Agreement for Unpredictable Outcomes

OPEC exporters may beat the target related to the OPEC+ agreement, which now seems to be a point of concern for international investors, The Wall Street Journal reports.

Publication date: 27 November 05:06 AM

Market Reaction to Zero Change in Fed’s Rate

Publication date: 23 September 03:30 AM

U.S. Investigation of Offshore Capitals May Ruin Putin’s Regime, Aslund Says

The international expert community has been busy discussing the search of Russian offshore capitals by Americans. Anders Aslund assumes that this investigation may eventually put an end to Putin’s regime.

 

 

 


Publication date: 06 September 11:37 PM