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.
Note
Saudi Armco to announce its official selling prices for May shipments this Sunday.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....
Note
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.Note
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.Note
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
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.