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情報取得日 2016/12/24 情報配信日 11月 23日 海外FX業者:FxPro(エフエックスプロ)

 

Can OPEC Meeting Help WTI Break Major Resistance ?

 
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FxPro(エフエックスプロ)
 
本文

OPEC will hold the next meeting in Vienna on 30th Nov, discussing about further details regarding output freeze.

Due to the market expectations on the likely agreement after the meeting, oil price has rebounded since 14th Nov, after testing the long term significant support line at 43.00. From 14th to 22nd Nov, WTI spot has rebounded 8.86%, trading above the downside uptrend line support.

Fundamentally, the oversupply issue has intensified. According to the monthly report from IEA (International Energy Agency), the output of OPEC in Oct has reached a record high of 33.83 million barrels per day. This figure has surpassed OPEC’s freeze target of 32.5 – 33.0 million barrels per day.

The conflicts of interests between member states is another major difficulty for reaching an unanimous agreement.

The firming of the dollar has restrained the bullish momentum.

If there is no concrete agreement made after the Vienna meeting, then oil prices will l......続きはこちら




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