Resumo:As of early this morning (GMT+8), WTI ended higher 1.95% with oil prices increasing in the wake of the meeting of the OPEC+ Joint Ministerial Monitoring Committee (JMMC).
WikiFX News (18 Sept.) - As of early this morning (GMT+8), WTI ended higher 1.95% with oil prices increasing in the wake of the meeting of the OPEC+ Joint Ministerial Monitoring Committee (JMMC), which was held on the night of September 17.
At the meeting, the OPEC+ committed to fully comply with the production cut agreement and urge the “cheating countries” to compensate for overproduced barrels. As the compensation may last till the end of the year, market stability will be further promoted. The OPEC+ also pledged to “actively” adjust the cuts quota of 2021 when necessary, so as to deter speculation on crude oil.
Oil prices jumped by 1.95% after the meeting and have bounced back above 200-DMA, which may be a technical progress uplifting oil bulls.
As far as the trend this month, oil prices are still edging down and may struggle to extend its rebound ahead of the critical zone of technical resistance around the $41.00. A back-test of the 50-DMA could keep a lid on further advances attempted by the commodity.
All the above is provided by WikiFX, a platform world-renowned for foreign exchange information. For details, please download the WikiFX App:
bit.ly/WIKIFX
Chart: Light Crude Oil Futures
Isenção de responsabilidade:
Os pontos de vista expressos neste artigo representam a opinião pessoal do autor e não constituem conselhos de investimento da plataforma. A plataforma não garante a veracidade, completude ou actualidade da informação contida neste artigo e não é responsável por quaisquer perdas resultantes da utilização ou confiança na informação contida neste artigo.