country flagالعربية
0

Oil is trading in green as production in Venezuela shrinks

2019-03-12 08:24 am | Resource: News | No Views : 42



 
Crude oil futures rose for a second consecutive day on Tuesday as traders took into account the risk of a rapid decline in output in volatile Venezuela. A series of fires and explosions in power transformers left the country in blackout and blocked stations and oil installations. The country is suffering from US sanctions, which also target oil, but sharp cuts have the potential to disrupt the market faster than expected.

The United States is on track to become a net exporter of oil by 2021, the International Energy Agency said yesterday, in addition to defeating Russia and Saudi Arabia at some point. In other news, Iranian President Hassan Rowhani is in Iraq, trying to secure natural gas shipments to the neighboring country, reducing US sanctions.

"Barkindo": American rock oil companies received support from the efforts of "OPEC" to reduce production

OPEC's secretary-general Mohamed Barkindo said work was under way to restore the balance of the world oil market and that supply adjustments would continue through 2019. Barkindo said at the Sierra conference that US rock oil companies had benefited from efforts to reduce supply from Before OPEC and its allies that supported prices. The comments came during a meeting of several energy leaders around the world at the "Sierra" conference, which began yesterday in Houston, Texas

Oil contracts


Other analysis

Best Opportunities, Vision and Technical Analysis for The Oil 18 March 2019

(CURDE OIL - WTI ) Time frame Used - four hours Oil is moving in a bullish direction in the near term. Oil finally managed to breach the important resistance level of 57.87 to the upside as the bulls managed to control the oil movement to break through trading range to upside ,to reach the level of 58.95 where the oil is facing some selling Pressure around this level. In…

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any doubts.TradingPekk.com does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.