Analytical Reviews

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

The oil market is unstable at the beginning of a new trading week


April, 17 2023
watermark Economic news

Oil quotes show high volatility at the beginning of the new trading week in the price range of $85.65-86.50 per barrel. 


The current Brent quote is $85.67 per barrel, WTI oil is trading in the range of $81.70-82.60 per barrel. Last week, Brent rose by 1.4%, WTI – by 2.3%, and both types of oil rose in price for the fourth week in a row.


The market was supported by the forecast of the International Energy Agency published on Friday, according to which the supply deficit on the world market in the third quarter will amount to 2 million barrels per day. The IEA noted that another reduction in production by OPEC+ countries threatens a further decline in supply and an increase in oil prices at a time when inflationary pressure is already damaging consumers.


In the second quarter, the deficit will be 400 thousand b/d. Previously, the IEA expected demand to exceed supply only in the third quarter. The average deficit in 2023 is estimated at 800 thousand b/d.


At the same time, OPEC, which published its monthly forecast the day before the IEA, still expects an increase in oil demand in 2023 by 2.3 million barrels per day (up to 101.89 million b/d) – above the pre-Covid level.


Also today it became known that the countries of G7 intend to maintain the ceiling of prices for Russian oil at $60 per barrel.


コメントする

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.