OPEC+ members agree larger-than-expected oil production hike in August | Crypto Craft

  • OPEC+ members agree larger-than-expected oil production hike in August

    From cnbc.com

    Eight oil-producing nations of the OPEC+ alliance on Saturday agreed to lift their collective crude production by 548,00 barrels per day, as they continue briskly unwinding a set of voluntary supply cuts. This subset of the alliance — comprising heavyweight producers Russia and Saudi Arabia, alongside Algeria, Iraq, Kazakhstan, Kuwait, Oman and the United Arab Emirates — met digitally earlier in the day. They had been expected to increase their output by a smaller 411,000 barrels per day. In a statement, the OPEC Secretariat attributed the countries’ decision to raise August daily output by 548,000 barrels to ... (full story)

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Whale
Jul 5, 2025 8:51am
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Classic short.
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Tony112
Jul 5, 2025 5:40pm
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Quoting upasna
Market open positive on Monday
And you've been here since 2011?

So more production glut means higher price right? WOW
Reply
Tony112
Jul 5, 2025 11:29pm
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Quoting Trader#46C3
{quote} if something is too obvious , the market likes to go opposite ,got to take normies like you out
Well, you got a good point here, rookie.
Reply
bel3ouchi
Jul 5, 2025 3:09pm
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Gap up
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Bakker
Jul 6, 2025 9:25am
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Quoting Trader#8D76
By principles of economics, more supply at the constant demand level results in lower price. However, being that this production hike is due to OPEC+ believing that demand is improving and global economy is doing better, short term market reaction to the news maybe bullish ... until the dust settles.
Depending on what market we're talking about. Oil, equity, Usd?
Reply
Bakker
Jul 6, 2025 2:20pm
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Quoting Gbolahan1111
USA pair ?
USD/CHF [expectation of greater demand for US goods; manufactured cheaper due to cheaper input costs (oil)]
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atillaken
Jul 6, 2025 1:02pm
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Good for Japan
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upasna
Jul 5, 2025 2:32pm
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Market open positive on Monday
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chali3388
Jul 5, 2025 6:13pm
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hopfully will cheaper to fillup car tank
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Umarch10
Jul 5, 2025 2:19pm
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#USOIL
Time Frame: 1H
-----------
CHART LINK
___________

The USOIL failed to create a new higher high!
The price formed a double top pattern.
Currently, The neckline is broken !
So, I expect a bearish move
________________
TARGET: 64.960
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Cj12056
Jul 5, 2025 10:51am
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That's good
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nakash
Jul 5, 2025 7:32pm
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Supply increases mean demand plummets and hence usd buffs
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Trader#46C3
Jul 5, 2025 7:46pm
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Quoting Tony112
{quote} And you've been here since 2011? So more production glut means higher price right? WOW
if something is too obvious , the market likes to go opposite ,got to take normies like you out
Reply
Topucu
Jul 5, 2025 10:18pm
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Quoting Tony112
{quote} And you've been here since 2011? So more production glut means higher price right? WOW
Funny, need to write a new economics book
Reply
Trader#8D76
Jul 6, 2025 1:07am
Permalink
By principles of economics, more supply at the constant demand level results in lower price. However, being that this production hike is due to OPEC+ believing that demand is improving and global economy is doing better, short term market reaction to the news maybe bullish ... until the dust settles.
Reply
Gbolahan1111
Jul 6, 2025 10:13am
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USA pair ?
Reply
emryd
Jul 6, 2025 1:08pm
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Seems good for JPY
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daniel79ro
Jul 6, 2025 2:30pm
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Price down
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Trader#5D7F
Jul 5, 2025 9:02pm
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no i forget to stop loss is it going to higher or lower?
Reply
Trader#C4D8
Jul 6, 2025 11:07am
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Quoting Bakker
{quote} Depending on what market we're talking about. Oil, equity, Usd?
We are talking about Palm wine market!
Reply
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