According to one of my friends very close of the minister of Saudi Arabia, OPEP members will very soon, under the leadership of Saudi Arabia, cut oil production to curb the budget deficit. To this end, the Saudi government purchases for some time, quietly, forward contracts in order to cash juicy profits.
I hope those who read this message can also take advantage of the very near future and significant rebound of Brent. which according to my friend could go up to $ 45
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TRDVMA
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Hi. I see some potential in technical analysis for the upside. However, as encouraging your news is, the flip side of the coin is that Iran will be joining the markets following the lift of sanctions, also US started sending oil to Europe. This will flood the market with more oil. In short, Saudis may limit their output to get rid of their huge debt but there are others in the game that we should consider as well. Good trades