OPEC’s Decision to Further Augment Brent Crude Oil

Brent crude oil retained its last week’s gains, notwithstanding a beat on the U.S. Non-Farm Payroll (NFP) print showing a gathering US Dollar. The decision by the Organization of Petrol Exporting Countries to reduce production output is unarguably outweighing dollar strength presently and is reflected in market positioning.

The long positioning on Brent crude oil has roughly augmented by 24000 lots since the previous read and might be higher following the OPEC+ decision.

This Post Has One Comment

Leave a Reply

Important Link

Fund Your Deriv Account
Withdraw Funds to Your Local Currency
VIP Trading Signals
Learn To Trade

Contact Us

Follow Us

Disclaimer

Forex, Crypto, Options, and Binary Options have both large potential rewards and large potential risks. Therefore, before investing or trading any of the assets, ensure you are aware of and willing to accept the accompanying risks. Do not trade money you cannot afford to lose.

All Rights Reserved. None of the content of this website can be published elsewhere by any means without the prior consent of the owner(s). Please, check our terms & conditions and privacy policy before continuing to use this website.

This website and its owner(s) are not in any way liable for any incurred loss, whether caused by the information provided on this website or otherwise. The use of this website, including the content and information provided, is the user’s sole liability.