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Crude Oil Outlook

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Countries part of the OPEC+ group are discussing the idea to implement oil production cuts for at least three months from May to July, Russian news agency TASS reported on Tuesday, citing two sources at OPEC.

Three months can be made from May because April deliveries have already been scheduled, a high-ranking source in OPEC told TASS, while another source noted that a potential production cut would be definitely longer than until June.

*Important Support And Resistance For 8th April 2020*

RESISTANCE 1 – 2096
RESISTANCE 2 – 2120
RESISTANCE 3 – 2145

SUPPORT 1 – 2042
SUPPORT 2 – 2023
SUPPORT 3 – 2002

*SUPPORT AND RESISTANCE MAY CHANGE AFTER OPENING OF MARKET*


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ProCapitas Market-Pro Team


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