Monday 11 April 2016

Doha soundtrack



The eagerly awaited release is scheduled for 17th of April and it is going to introduce mixed tunes. 
The ongoing supply glut will keep the major beat of the discussion.

Oil prices are located close to the key psychological level at $40 a barrel. Currently the scepticism prevails mainly due to the friction between Saudi Arabia and Iran in terms of a reduction in yield that could ruin the materialization of a potential decision to restrict production in a real downturn.

The hopes of an agreement supported the recent rally, but the chances for such scenario remain weak, having in mind that Saudi Arabia is striving for solo performance.
If  markets fail to meet the desire for production cut, a setback from current levels might be expected.

Within this soundtrack I’m awaiting to here the roar of the bears, twisted with the louder sound of the solid long-term demand for oil.



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