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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