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Is OPEC Losing its Grip on the Oil Market?

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Oil is once again the talking point of the market as it traded below the $27 a barrel mark for the first time in 12 years. The fundamental oversupply is still in place, and cracks are beginning to form in OPEC. Could this mean the cartel is losing its grip on the oil market? The rout continues as the market is concerned the oversupply will last longer than expected. Yesterday figures from the American Petroleum Institute were released and added yet more downward pressure on WTI crude prices.

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