Price seems to be heading to 72.70 target. OPEC+ had suffered massive losses during pandemics and they want to recover those losses ASAP, so I do not think they will do much efforts to "balance" the market. Instead they want to balance their accounts and dividends to be paid.
This may backfire them by lowering global demand but let's see what would be their next action to manipulate oil markets.
I'm gonna SHORT oil above 72 in different stakes till 76 and will cover myself with a premium OPTION just in case.
Let's see how this plays out.
This may backfire them by lowering global demand but let's see what would be their next action to manipulate oil markets.
I'm gonna SHORT oil above 72 in different stakes till 76 and will cover myself with a premium OPTION just in case.
Let's see how this plays out.