Categories: Market Overview

2018 in review: OPEC vs Brent

The volatility of the Crude has oil returned to the focus of the markets in 2018. Until October, it maintained the trend for growth. In the first half of the year there were restrictions of OPEC + output, and growth of production in the USA did not compensate growth of consumption.

In June, the restrictions were lifted, and the United States continued to set its own production records.

FxPro analyst said that in October-November the struggle for superiority in volumes between the USA, Russia and Saudi Arabia has escalated. This did not prevent the growth of prices, while it was expected a sharp decline in production in Iran due to the US sanctions, which came into force in November.

Later, a sale on global stock markets and signs of cooling of world growth were added to pressure factors. As a result, Brent ends the year near $50, losing 40% of peak levels from the end of September.

The FxPro Analyst Team

Our team consists of financial market experts. Our dedicated professionals prepare reviews on the foreign exchange market situation, Crude Oil, Gold and Stock Indices. All the analysts are regularly published in the world leading economic media.

Share
Published by
The FxPro Analyst Team
Tags: brentwti

Recent Posts

Tesla Wave Analysis – 21 March 2025

Tesla: ⬆️ Buy - Tesla reversed from support level 220.00 - Likely to rise to…

12 hours ago

Google Wave Analysis – 21 March 2025

Google: ⬆️ Buy - Google reversed from key support level 160.00 - Likely to rise…

12 hours ago

Silver Wave Analysis – 21 March 2025

Silver: ⬇️ Sell - Silver reversed from resistance level 34.00 - Likely to fall to…

13 hours ago

USDCHF Wave Analysis – 21 March 2025

USDCHF: ⬆️ Buy - USDCHF reversed from support level 0,8750 - Likely to fall to…

13 hours ago

What’s next: Flash PMIs, UK CPI & US PCE

The week ahead includes the release of the PMI business activity indexes for March, the…

20 hours ago

Gold: Growth Opportunities

Gold has been in an uptrend, reaching record highs and offering growth opportunities. However, caution…

21 hours ago