While OPEC may be winning in their battle to balance the global Oil market, it is not necessarily happening on the timeframe they would prefer. Naturally, it is not helpful that Shale production is at its highest levels since 2015. The U.S. Shale resurgence coupled with OPEC’s supply management continues to provide hope for Oil bulls. While Crude dropped ~3% on Wednesday, there is also likely to be volatility on expiration-position squaring is occurring ...
As energy investors consider the market for 2017, they should not forget to keep track of how even small moves by OPEC, shale oil, energy service providers and renewable energy policy can impact the market. West Texas Intermediate Crude Oil: more...
Oil Q1 2017 Forecast - The Real Power of OPEC Will Be Revealed in Q1 2017 Fundamental Analysis "For traders who like to simplify the markets to a game of supply vs. demand, the Oil market in Q1 2017 should be their World Cup. Heading into the New Year, the OPEC and non-OPEC members will cut supply to the agreed upon amounts. Given this intent, the International Energy Agency (IEA) says recent OPEC action would place the ...
We are now trading at the top of a channel drawn with the same slope as the support that we had been focusing on throughout the 2016 rebound and into 2017 (rising trendline in black on the chart above) drawn from the first higher low off the rebound from the February low. While we remain Bullish due to fundamental and technical factors, there is a rising wedge pattern developing that should warrant attention. The rising wedge pattern has ...
Recent Comments