Eyeing OPEC – Critical crude – MM #125

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Oil prices are left, front and center, with a roller-coaster of rumors and a wider impact on markets: the US dollar, other commodities and also stocks eye Vienna.

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  1. OPEC: We explain the numbers supporting a deal: a small cut could result in a big rise in prices.
  2. US shale industry reaction: The pendulum is always ready to swing, but things move slowly.
  3. Significant inventory buildup: Oil stocks have gone up and up in recent years, something that also carries its weight on oil prices.
  4. Critical for OPEC: The divisions in the cartel risk making the organization irrelevant. Reaching a deal is crucial.
  5. Oil, the dollar, and Trump: Some of the classic correlations are broken, but will probably re-emerge after the Vienna summit.
  6. Preview: After the Thanksgiving week, we are back to full business with a buildup to the NFP, an update on GDP and quite a few other important events in the first week of the last month of 2016.

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About Author

Yohay Elam – Founder, Writer and Editor
I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me.

Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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