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Oil Glut Still Overwhelms Market With Fear Ahead Of U.S Inventories

21 June 2017 06:27 PM BDT
Oil Glut Still Overwhelms Market With Fear Ahead Of U.S Inventories

FxGrow Daily Technical Analysis – 21st June, 2017 By FxGrow Research & Analysis Team Oil Glut Still Overwhelms Market With Fear Ahead Of U.S Inventories Crude oil prices has been on a gradual decline since 25th of May with $9.00 loss and $42.93 low yesterday. Despite OPEC and Non OPEC reports showing a high level of compliance during May estimated at 108%, fear of global oversupply still overwhelms the market, pushing oil prices lower. Libya's oil production rose more than 50,000 bpd to 885,000 bpd after the state oil company settled a dispute with Germany's Wintershall.Nigerian oil supply is also ... For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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