The Traderszone Network

Published in TZ Latest News 10 January, 2017 by The TZ Newswire Staff

Crude oil drops to test key support

The crude oil market is curious as to whether the cartel and those non-OPEC producers who took part in the deal will honour their agreement or whether cracks will start to appear. I would be very surprised if producer nations breached their agreed quotas by noticeable margins because while that might be profitable in the short-term, it could be very costly in the long-term. Why sell more oil for less when there is a chance to sell less oil for more in the future?