Oil market is giving different signals nowadays in the global forex market. When we look at price movements in the oil market over the past few years, prices have bottomed towards the end of the first quarter of the year, and the prices remain high until the last quarter of the year. In other words, we are talking about buying a petroleum market in March and producing a strategy with a buying direction until October. The OPEC decision about limiting oil production at the last months of 2016 played an important role about the expectations of 2017. At the weekend, the OPEC monitoring committee organized a meeting and gave good news to the market. The monitoring committee said that OPEC members are showing a good performance about oil production limitations like Russia which is not a member of the community.
- Date: 24 January 2017 Tue 15:45
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