All eyes on the OPEC meeting at Vienna - DB

November 24, 2014

FXStreet (Barcelona) - Analysts at Deutsche Bank note that the Thursday’s OPEC meeting at Vienna will be a closely watched affair with speculations going around that there will be a 1m a day cut in barrels produced.

Key Quotes

“There has been no shortage of news-flow around the event recently with prices declining sharply over the last couple months in anticipation that OPEC will not cut production.”

“In recent weeks it appears that the camp has become split with the likes of Saudi Arabia and other low-cost producers with large FX reserves happy to run down the price to gain market share.”

“On the other hand the likes of Venezuela and more recently Iran are reported (Bloomberg) as saying that they may propose a 1m a day cut in barrels produced. They are campaigning for higher prices to balance their budget and improve fiscal positions. “

“We will no doubt hear further statements this week from producers in the run up to the meeting so it’s something to keep an eye on.”

Publication source
HYCM information  HYCM reviews

October 21, 2016
Gold prices drop in Asia amid stronger greenback
On Friday, gold dropped during Asia trade amid a strengthening greenback as well as surging chances of a rate hike weighing on the hedge commodity...
October 21, 2016
ECB holds the rate unchanged with the pressure on Draghi
After a brief upturn seen in the late Asian trading, the currency retreats to the Wednesday close showing a tepid response to the ECB policy update. The New York FED leader William Dudley comments offered a support to the Dollar rally although the focus remained on the US inflation...
October 21, 2016
EURGBP Tests Major Support
This morning we saw the release of German PPI YoY and MoM figures for September. The former fell to -1.4%, compared to expectations of -1.2%. The latter was -0.2%, in line with expectations...

FBS Rating
FXTM Rating Rating
XM Rating
FxPro Rating
FXCM Rating

OptionFair Rating
Binary Brokerz Rating
24option Rating
TopOption Rating
Empire Option Rating
Grand Option Rating