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Oil: Much of the price drop has been reversed - Investec

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Research Team at Investec, notes that the Sunday's oil producers’ (OPEC and non-OPEC countries) meeting in Doha ended without any agreement being struck on limiting supply.

    Key Quotes

    “Oil prices tumbled initially in what was feared to be the beginning of another oil price rout. Yet this morning as we walk in, much of the price drop has been reversed. One possible explanation is unlike previous stalemates that failed to limit supply and dragged on prices, there may be some hope that Chinese stimulus is leading to increasing demand for commodities when prices dip, keeping the price outlook more optimistic.”
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