The reduction of 600k barrels per day in production recommended by the OPEC technical committee is thought to be seen as an exaggeration by Russia. Oil market is expected to be under strain in the next days, according to analysts at TD Securities. Key quotes “Headlines from Russian Minister of Energy Novak stating there are no signs Chinese demand for Russian oil and gas is falling, and noting only a 150-200k bpd hit to global demand, suggests Russia is still reluctant.” “We can expect an answer from Russia in the coming days, and in the meantime the oil market is likely to remain under pressure as fears of large surpluses loom large.” “CTAs remain sellers of Brent but have reversed course on RBOB gasoline selling, turning into buyers on the day and seeing the product outperform the complex this morning.” “We note gasoline is trading in whipsaw territory as the bar is razor thin for gasoline buying to flip back to major selling below $1.47/gal.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Canada: Healthy job market – RBC FX Street 2 years The reduction of 600k barrels per day in production recommended by the OPEC technical committee is thought to be seen as an exaggeration by Russia. Oil market is expected to be under strain in the next days, according to analysts at TD Securities. Key quotes “Headlines from Russian Minister of Energy Novak stating there are no signs Chinese demand for Russian oil and gas is falling, and noting only a 150-200k bpd hit to global demand, suggests Russia is still reluctant.” “We can expect an answer from Russia in the coming days, and in the meantime the oil market is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
