Brent Crude – Are Output Cuts Working? (Video)

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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This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam