Nymex Crude Oil Prices Forecast Above $45 Level, Target $49 — $52 – Neal Bhai Reports

Crude oil MCX Target

Gold Silver Reports (GSR) – The Energy Information Administration said domestic oil inventories rose by 7,000 barrels last week, defying analyst projections for the decline that usually accompanies growing winter fuel demand. Gasoline supplies surged by 6.9 million barrels and stockpiles at a key storage hub in Oklahoma also grew.

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Nymex Crude Oil Prices Forecast Above $45 Level, Target $49 — $52 – Neal Bhai Reports via @goldsilverrepor

Breaking News – Saudi Arabia to cut output by 900,000 Barrels a day in January – Neal Bhai Market Analyst

Crude Oil

Gold Silver Reports (GSR) – Futures rose above $52 a barrel in New York. The industry-funded American Petroleum Institute was said to report U.S. crude supplies fell 10.2 million barrels last week, according to people familiar with the data. Earlier, oil settled higher on renewed optimism that announced production cuts from the OPEC+ coalition will re-balance global markets, while Libya’s biggest field remained shut, taking supply off line.

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Breaking News – Saudi Arabia to cut output by 900,000 Barrels a day in January – Neal Bhai Market Analyst via @goldsilverrepor

As Oil Plunges, the Real OPEC Meeting Will Be at Next Week’s G20 – Money Market Guru

For the oil market, it looks like the real OPEC meeting will come a week ahead of schedule.

The cartel is set to meet on Dec. 6 in Vienna, but days earlier the key decision makers are set to gather on the sidelines of the G20 summit in Buenos Aires in a meeting that may well decide the direction of oil prices in 2019.

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