Senior Market Analyst Craig Erlam discusses the oil output cuts in light of today’s Joint Ministerial Monitoring Committee meeting. While producers taking part in the cuts appear satisfied, traders remain unconvinced which may force further action before the program expires at the end of the first quarter of 2017.
Craig also takes a look at a chart of Brent crude and gives his analysis of how today’s comments have impacted the outlook for oil.
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Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.