Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Tuesday, 22 January 19:23 (GMT -05:00)



Stock and commodities markets

OPEC+ Conditions May Get Tougher


The participants of the OPEC+ deal have recently discussed the efficiency of the deal. Having discussed the results, they decided to change a range of criteria. To do so, they may well have to extend the OPEC+ deal, Bloomberg reports.
 
The OPEC+ summit took place on March 19th, in the OPEC’s headquarters in Vienna, Austria. The meeting was held behind the closed doors. So, the reporters didn’t manage to find out the details of the meeting. However, Bloomberg managed to get some info about the topics discussed there from anonymous sources participating in the OPEC+ summit.

The biggest change offered during the meeting has to do with changing the basic period of commercial oil inventories. The current agreement is based on 5 years, and the period is offered to be extended up to 7 years. Over the last 5 years, the crude oil inventories have been extremely high, which was one of the reasons why the crude oil prices crashed in 2014. By the way, this is something that Russia and Saudi Arabia previously mentioned.

If the offer is accepted, the OPEC+ participants are expected to take more time than expected (late 2018) in order to cut down on their oil inventories. If the offer is denied, the OPEC+ goals will be reached in Q2 or Q3 2018.

Also, the OPEC+ participants were offered to change the system monitoring their commercial oil inventories by taking into account all of their oil inventories worldwide. The next summit of the OPEC+ ministers is scheduled for April 15th.

 

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

Economic Calendar by Dukascopy 18.01.2017

Thursday brings the latest ECB statement, so let's take a closer look with the Economic Calendar.
Swiss Producer Price Index for December is up first at 8:15 AM. The Index has been growing for the past 3 months.
The closely watched ECB Monetary Policy Statement is out at 12:45 PM GMT, and make sure you tune in for the press conference 45 minutes later. President Draghi is sure to face plenty of questions about the latest developments which could cause some volatility in the markets.

Publication date: 18 January 06:10 AM

Trading Signals by Dukascopy 18.01.2017

You're watching the Main Daily Trading Signals for Wednesday. Here's how the technical models compare with the interbank stance at 8 AM GMT.
Euro/Dollar’s outlook varies by time ranges – hourly studies are bearish, mid term is mostly neutral and long term shifts to bullish. The only 3% long interbank matches the mid term studies.

Publication date: 18 January 05:10 AM

Economic Calendar by Dukascopy 17.01.2017

Tuesday brings the latest update on UK inflation, so keep watching this Economic Calendar to find out more.
In fact, the highly anticipated British December CPI is the first item on the schedule, and it's released at 9:30 AM. The annual inflation picked up speed in November, rising to a 2 year high.

Publication date: 17 January 05:42 AM

Historical Low For Turkish Lira by Dukascopy TV

The Turkish Lira has hit a historical low and the currency could weaken further against the Greenback.

Atilla Yesilada, Global Source Partners

Publication date: 16 January 06:37 AM

Economic Calendar by Dukascopy 16.01.2017

It's time for another Dukascopy Economic Calendar. Here's a rundown of the most important news releases scheduled for Monday, the 16th of January.

US markets will be closed for the Martin Luther King day, and the first item on the schedule comes one minute past midnight when the UK Rightmove House Price Index for January is released.

Publication date: 16 January 02:00 AM

Clean Energy Gets Popular, IEA Reports

In 2015, the amount of energy produced the “green” way outnumbered the amount of energy produced from fossil fuels in terms of growth for the first time in history. This is confirmed by the recent report released by the International Energy Agency (IEA).
 
Publication date: 21 December 09:55 AM

In 2017, Oil Market May See Both Deficit and Oversupply

The contemporary global market of crude oil may well go from oversupply to seeing a deficit in 2017. This is what several respected experts working for the International Energy Agency thing on the matter. For starters, this scenario need a major trigger in the form of signing the promised oil production cap agreement reached verbally by OPEC members in late September in Algeria.

 

 
Publication date: 17 November 01:35 PM

Oil Prices Get Ready For Another Plunge

Crude oil and the Russian Ruble have found themselves at 3-month lows. There are several reasons for that.  In particular, OPEC is reported to be producing record-high amounts of crude oil despite the recent verbal agreement to cap and even cut their production in the near future.
 
Publication date: 16 November 05:01 AM

Kudrin Says Oil Will Cost Under $30/b Over the Next 20 Years

Former Russian Minister of Finance Mikhail Kudrin says that crude oil is going to see the period of ultra-low prices over the next 20 years. One of the most influential and respected Russian financiers specifies that crude oil is not going to cost more than $30 per barrel in the future.
 
Publication date: 14 October 01:11 AM

OPEC's Oil Production Saw Record Highs In September 2016

According to the recent research conducted by Bloomberg, OPEC’s oil production reached a new high in September 2016. To be more specific, OPEC is reported to have been producing 33,75 million barrels a day over the reporting period.
 
The record high production of crude oil within the scope of cartel has to do with considerable production growth seen in Libya and Nigeria over the reporting period. For those of you who don’t know, the similar data taken for the previous month report 33,24 barrels a day, which means that OPEC’s oil production increased by as much as 170 thousand barrels a day in a matter of 4 weeks.
Publication date: 07 October 07:34 AM