USOIL was down 17.40% yesterday in a sell-off caused by the news that OPEC is considering higher production levels.
The United Arab Emirates said it would support boosting oil supply because of the disruptions caused by sanctions imposed on Russia after Ukraine`s invasion.
President Biden imposed an immediate ban on Russian energy imports.
UK would phase out imports by the end of 2022.
Only OPEC Can Help The West Replace Russian Oil but until we see that, i think USDOIL will have another rally to $127 - $130.
I think the market overreacted to the news.
The United Arab Emirates said it would support boosting oil supply because of the disruptions caused by sanctions imposed on Russia after Ukraine`s invasion.
President Biden imposed an immediate ban on Russian energy imports.
UK would phase out imports by the end of 2022.
Only OPEC Can Help The West Replace Russian Oil but until we see that, i think USDOIL will have another rally to $127 - $130.
I think the market overreacted to the news.
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Private SIGNALS patreon.com/PremiumOptionsSignals
Trading COURSE bit.ly/tradex
RESULTS bit.ly/TG10x
TradeNation bit.ly/t10X
CRYPTO partner.bybit.com/b/37880
BUY-SELL INDICATORS tradingindicators.store/
Trading COURSE bit.ly/tradex
RESULTS bit.ly/TG10x
TradeNation bit.ly/t10X
CRYPTO partner.bybit.com/b/37880
BUY-SELL INDICATORS tradingindicators.store/
Disclaimer
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.