Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:


20.10.2014 15:40

Oil: an overview of the market situation

The cost of oil futures declined substantially, as market participants remain concerned about the prospects of the global economy and its impact on the demand for raw materials. Pressure on prices also have a speculation that the Organization of Petroleum Exporting Countries will not cut production to support oil prices. Recall November 27 oil ministers of the OPEC countries have planned a meeting in Vienna in which intend to consider the advisability of adjusting the current production at the level of 30 million barrels per day at the beginning of 2015.

"It is unlikely that the recent recovery in prices will continue until such time as we get the exact content by OPEC to cut production", - the expert said Carsten Fritsch Commerzbank. He and several other analysts do not exclude a further decline in oil prices. "Testing in the range of 75-80 dollars per barrel can occur on the current or next week," - says economist ABN Amro Bank in Amsterdam Hans van Kleef.

It is worth emphasizing that the world's reserves are way ahead of demand in recent months. Earlier report showed that oil production in the OPEC reached in September two-year high of 31 million barrels per day, due to increased production volumes in Iraq and Libya.

Market participants are preparing for tomorrow's publication of a number of economic indicators in China, which will give a clue as to the strength of the economic recovery and future course. Recent economic performance of China noted that the recovery remains uncertain and may require further monetary stimulus.

Little support prices have reported that an Iranian president Hassan Rouhani gave an indication of the Ministry of Oil to use "diplomatic means" to prevent a further fall in prices. "This news once again emphasizes that oil producers are concerned about the decline in share price, - the analyst said CMC Markets Michael Hughes. - None of the major countries, OPEC, will not be able to survive long periods without serious consequences, during which oil will cost less than $ 85 per barrel. "

The cost of the November futures for the American light crude oil WTI (Light Sweet Crude Oil) fell to $ 81.10 a barrel on the New York Mercantile Exchange (NYMEX).

Price of December futures for North Sea Brent crude oil mixture fell $ 1.58 to $ 84.84 a barrel on the London exchange ICE Futures Europe.

Market Focus

  • Donald J. Trump was inaugurated as the 45th president of the United States
  • Canada: Retail Sales, m/m, November 0.2% (forecast 0.5%)
  • U.S.: Nonfarm Payrolls, January 227 (forecast 175)
  • Eurozone: Consumer Confidence, January -4.9
February 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002

Quotes

All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Служба технической поддержки:
8-800-200-31-00, support@teletrade-dj.com

  • Онлайн-консультация
  • Заказать звонок
  • Написать письмо
Connect with Us
Share on
social networks
Online
consultant
Request a callback
Top Page