Oil Continues to Grow

After news from Saudi Arabia, analysts are more confident that the oil market will recover.

Economic News
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Oil Continues to Grow

The price of oil continues to make slow but steady growth in light of the recent signs of a balancing oil market.

The efforts to bring an end to the oversupply issue on the market are headlined by OPEC, and more specifically Saudi Arabia, who initiated the production cuts agreement about a year ago. Although OPEC has remained true to its promises and complied to 90% of the agreed output numbers, analysts are still stressing on the need to continue production cuts well into 2018, even after the expiration date of the original agreement.

Earlier today Saudi Arabian Minister of Energy Khalid al-Falih hinted at the possibility to extend the extraction cuts as long as the market needs, giving analysts a new reassurance that oil prices will continue their recovery.

The Brent crude this morning was trading at $58.41, while the WTI was at $52.38.

SuperForex
Dollar on the Rise

Economic News

Dollar on the Rise

Waiting for the appointment of a new head of the Federal Reserve supported the dollar.

SuperForex
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OIl on the Rise

Economic News

OIl on the Rise

The price of crude oil continues to increase in light of recent events.

SuperForex
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Market Review

Economic News

Market Review

The dollar moved away from its peak.

SuperForex
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