Since the beginning of this week representatives of oil world has been discussing hot issues concerning the field of oil production. An extraordinary meeting of the oil companies is held in Algeria on 26,27 and 28 of September 2016.
This meeting is touted by mass media as the most anticipated event of this September. Attention of all investors drawn to the chart of oil, and even the smallest analytical agency is committed to give its outlook and commentary.
If we collect all available information, we can make a suggestion that consensus won't take place. Moreover, energy ministers in one voice declare that the Ñondition of the oil market is even worse than condition which was during previous meetings about six months ago. Nowadays supply exceeds demand and oil production countries renovate historical records that is why there are all reasons to hold the position for sale.
The meeting of representatives of Saudi Arab and Iran was held in Vein but didn't brought any results. Iran doesn't agree to reduce volumes of raw materials but, on the contrary, plans to increase it (as well as the rest of the volumes).
On Wednesday evening, on the 28 of September 2016 the situation on the reduction of the level of oil production will be fully clarified and it creates unique opportunities for receiving earnings.
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1. Ð¡ommodity currency - CAD (look for the instrument USD/CAD in the lists);
2. Contract for American oil (USOIL).