Baxia Markets
By
October 05, 2021

Crude oil jumps again to reach a 3-year peak on Monday

fundamental analysis top header -01

 

The producer club's plan to gradually increase oil supply raised prices substantially, adding to inflationary pressures that consuming countries fear would derail the pandemic's economic recovery. In July, OPEC+ agreed to increase output by 400,000 barrels per day each month until at least April 2022, phasing down 5.8 million barrels per day of existing production cuts.

 

 

OIL1004

 

According to the International Energy Agency, demand for coal and natural gas has surpassed pre-COVID-19 highs, with oil lagging closely behind. Fossil fuels still meet three-quarters of global energy demand, with non-nuclear renewables accounting for less than a fifth. Some countries have pressed OPEC+ to re-enter the market with more barrels because demand has returned faster than projected in some regions of the world.

 

We love to hear new ideas from traders and want to know what you think! 

 

If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.

 

Open Live Account  

 

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

 

Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit. 

Subscribe by Email