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Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Dropped in Oil prices due to Excess Supply in February

March, 02 2017
watermark Economic news

For three succeeding session, the crude oil dropped as the supply accumulated affecting the overall market. On the other hand, oil producers focus on expanding the shale oil production. Last week, oil reserve increased by 1.5 million barrels and recorded a 520.2 million barrels for the past eight consecutive weeks.

Yet, the oil market was able to steadily move within a tight trading range that was balanced out by the compliance of Organization of the Petroleum Exporting Countries in the production cut in the U.S. oil reserves. The OPEC cut its oil production in February that boosted the 94 percent participation of its member. Moreover, bigger cuts from countries like Saudi Arabia and Angola has helped even out weaker compliance from other members that curbed their output.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.