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Thursday, 17 August 13:10 (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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Russia Is Against Further Oil Production Cuts, Bloomberg Says

Moscow is against cutting their oil production any further if there is such an offer further down the road. They know that if they have to meet with OPEC members anytime in the near future, and given the fact that the recent extension of the Vienna Accord seems to be failing to do what it’s meant to do, such an offer may really be the case. By the way, Bloomberg reports that another Russia-OPEC meeting is scheduled for July 24, 2017 in Saint Petersburg, Russia.

Publication date: 05 July 07:13 AM

Pavel Krymov on the New Look of Venture Investing

Not so long ago, Ukraine hosted the first conference dedicated to block-chain business. The event was visited by some of the most popular representatives of the crypto-currency industry, including the owners of crypto exchanges, top managers, investment fund managers, developers, and the owners of other related financial projects.

 

Pavel Krymov, who is a well-known and respected expert in financial marketing, investing, and the author of several exclusive strategies of promoting financial services, was also among those who visited the conference.

Publication date: 16 June 09:22 PM

Nobody Can Predict Today’s Crude Oil Market

Today’s global market of crude oil keeps on bringing new surprises. This means it more and more difficult for international experts to predict future oil prices.

 

 
In his articles, oil market observer Sergei Shelin says that the representatives of the so-called international expert community failed on their forecasts once again the other day. To be more specific, nobody could have thought that the recent decision to extend the so-called Vienna Accord during the recent OPEC summit in the capital of Austria would eventually result in lower oil prices instead of pushing those prices higher.
Publication date: 08 June 07:11 AM

Bitcoin Crashes

Bitcoin has crashed by more than 600 dollars per 1BTC. This is confirmed by Coinbase. To be more specific, the exchange rate dropped all the way down to 1961 dollars per 1BTC. Experts say that this is not the end, and the crypto currency may well continue getting cheaper in the near future.
 
Publication date: 01 June 07:26 AM

Experts Don’t Believe That OPEC Will Push Oil Prices Higher

The average price of crude oil is still around 45 dollars per barrel. Some experts believe that no further production cuts will managed to change the situation and make the prices reach new local highs.

Publication date: 24 May 10:00 AM

OPEC-Russia Deal Hits Russian Oil Companies

Since Russian oil companies had to cut down on their daily oil production as the result of the so-called Vienna Accord signed in November 2016 by the OPEC and some non-OPEC producers led by Russia, those companies eventually lost a lot of profit, even though the production cuts seem to have had positive impact on the Russian budget. Apparently, the agreement was designed to reduce the oversupply and make oil prices grow to let the exporters gain more money as the result of higher oil prices in the global market.

 

 
Publication date: 22 May 05:06 AM

OPEC’s Unlikely to Make Further Oil Production Cuts, Expert Says

According to Vladimir Milov, President of the Russian Institute of Energy Politics, OPEC members and their partners have failed to trigger higher oil prices by cutting their daily oil production. At the same time, he believes that the cartel is not ready to implement further production cuts.
 
Publication date: 22 May 03:56 AM

Vienna Accord May Be Extended by 9 Months

During the recent press conference, Saudi Arabian Minister of Energy, Industry, and Mineral Resources Khalid A. Al-Falih told the reporters that the OPEC and non-OPEC oil producers are now actively discussing the possibility of extending the so-called Vienna Accord until March 2018, with the same quota of 1,8 million barrels a day.

Publication date: 15 May 11:01 AM

Morgan Stanley Reveals New OPEC Tactics

It looks like OPEC members declared a hybrid war on their rivals in the global oil market. The say something but do the opposite. This is what Morgan Stanley experts think on the matter.

 

 
For instance, previously the OPEC announced oil production cuts a number of times. On the one hand, there are no reasons to question their announcements. Maybe at times they do cut their oil production. On the other hand, their oil delivery is still the same. This means that despite all the promises and expectations, the international market of crude oil keeps seeing the same oversupply, which in its turn keeps on capping oil prices. Morgan Stanley experts assume that OPEC members are selling out their oil inventories. Indeed, if the inventories are full, why not benefit from this and manipulate rivals with higher oil production costs. The OPEC announces production cuts, everyone waits for oil prices to rally but nothing considerable actually happens.
Publication date: 09 May 10:50 PM

Crude Oil at $30/b Again?

The unexpected crash in the global market of crude oil seen over the last few days has made the international community worried about the future of crude oil. Now, traders and investors are not the only ones worried. Financiers, economists, bankers, officials and many others are concerned about this since their financial well-being also depends on crude oil prices.

Publication date: 05 May 09:48 AM