Let's see if I'm reading the chart correctly. If there's no deal this weekend, downtrend shall being in 2 steps. Storage full and low demand based on current world situation.
Perhaps i'm just being hopeful and see what I want to see.
Perhaps i'm just being hopeful and see what I want to see.
Comment:
OPEC and Russia have postponed a Monday meeting to discuss oil output cuts until April 9, OPEC sources said, due to a Saudi-Russia dispute over who is to blame for plunging crude prices.
Comment:
The International Energy Agency warned on Friday that a cut of 10 million bpd would not be enough to counter the huge fall in oil demand. Even with such a cut, inventories would increase by 15 million bpd in the second quarter.
Comment:
Saudi Aramco delayed the release of its key monthly oil pricing list until later this week as the kingdom trades barbs with Russia about the OPEC+ meeting aimed at ending the collapse in oil prices.
A new date for the announcement of Aramco’s official selling prices for May is not yet set, and the release could be pushed to Tuesday or Thursday
A new date for the announcement of Aramco’s official selling prices for May is not yet set, and the release could be pushed to Tuesday or Thursday
Monday Meeting for OPEC+, BUT is USA willing to cut output of shale oil? This could be a deal breaker and prices may drop sharply to previous lows....