When crude oil was negative price, Carimin still at 0.50-0.60 ct
Now at crude oil is above 32 dollar, Carimin rises above 0.70 ct.
After June 1, most of economy of world will open, there will great demand in crude oil. The future crude oil price will rising at tremendous pace due to Opec +Russia cut production. The oil bull are back.
O&G stocks not consistent and stable despite crude oil have fallen to its lowest ebbs. Secondly with the ongoing pandemic Covid19 disease is going to last for one or more years have inadvertently hindered world oils economic consumption
Nice doji formed, rebound incoming! Next Tuesday whatever price it open, just top up more, it will close high. ( But don't buy if oil crash of course, which is unlikely.)
Goldman Sachs sees a correction in oil prices on the horizon even amid a significant recovery in the last month and the recent decision by OPEC and its allies to extend historically large production cuts through July.
“With oil now above $40/bbl, supplies will be incentivized to return, but we believe the risks to the downside have increased substantially and are now looking for a 15-20% correction which may already be underway after Monday’s modest sell-off,” Goldman Sachs’ commodities research team led by Jeffrey Currie wrote in an analyst note on Tuesday.
“Despite the rally, we have been hesitant to recommend a long position this early in the cycle for several reasons,” the analysts wrote.
Surplus oil inventory of an estimated 1 billion barrels has piled up as the world’s economic activity and travel remains largely at a standstill amid coronavirus fears.
There’s also widespread uncertainty over a demand rebound, with health authorities stressed the risk of a second wave of Covid-19 infections plunging countries back into lockdown.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
myinvestor
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Posted by myinvestor > 2020-05-20 12:20 | Report Abuse
When crude oil was negative price, Carimin still at 0.50-0.60 ct
Now at crude oil is above 32 dollar, Carimin rises above 0.70 ct.
After June 1, most of economy of world will open, there will great demand in crude oil. The future crude oil price will rising at tremendous pace due to Opec +Russia cut production. The oil bull are back.