OPEC

The price of crude oil has been a lot less volatile this week, slowly drifting higher. But WTI seems to be having some trouble breaking through the $75/bbl level. There are a lot of factors pushing and pulling crude prices, but they seem to…
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EURUSD recession fears easing The euro steadies as the eurozone appears more resilient than expected. With retail sales not contracting as much as expected, this eased concerns that the bloc will also hit a softer landing much like…
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The price of crude has been on the backfoot since the summer, when WTI made a run at $100/bbl. Despite the war in the Middle East and increased production curbs from OPEC+ members, the price kept going down. That is, until now. But are we…
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USDCAD drifts lower The Canadian dollar rallied after strong growth in November’s employment. The pair continues to search for support after it gave up gains from its October rally. On the daily chart, the base of a previous breakout…
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OPEC will meet to discuss production cuts tomorrow, with the focus on the preceding JMMT meeting which will provide recommendations on what to do. The meeting got extra attention after it was delayed from last weekend amidst rumors that…
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AUDUSD grinds higher The US dollar tumbled after Fed Governor Christopher Waller raised the possibility of rate cuts. The price continues on its way up after lifting offers around the psychological level of 0.6600. 0.6740 at the start of…
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GBPUSD seeks support The US dollar clawed back losses after last week’s initial jobless claims beat expectations. A jump above the previous high of 1.2500 has strengthened the bullish bias as the price recovers from its October lows.…
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Earlier in the week, OPEC released its monthly report, which included forecasts for next quarter's demand and supply. According to the cartel, demand in Q4 will exceed supply by over 3M bbl. That explains the recent increase in oil prices.…
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In the most recent survey of economists conducted by Reuters, the average price of crude for this year was raised once again. This follows a month of massive drawdowns in US inventories, including the largest one ever at the start of…
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