surprising cuts on oil inventories in United States, an agreement between Iran, Rusia and Saudi Arabia; we have to remember, that the biggest downside movement, went in a moment of geopolitical tensions between the two biggest OPECs members, now they support the idea to cut production, so it will bring strong pressure to a rebound in the oil price. BUT, i dont think it is going to break the 35USD barrier, so it is going to ocsilate for a long period between 30-35USD.
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.