Trading the 30th November OPEC meeting

Trading the 30th November OPEC meeting

TRADING-THE-30TH-NOVEMBER-OPEC-MEETING

Iran and Iraq seems to be the “troublemakers” at the moment which can spoil the OPEC agreement. Russia is a key player that is driving the negotiations between the members.

By trading oil which is a very volatile product, it’s very difficult to manage our risk particularly when unexpected news, rumors comes out. Is not that wise to guess the OPEC meeting result as this can evaporate our capital. What we should do is to react to the OPEC decision.

If we got a positive deal the oil prices will skyrocket to $50 within few hour and gradually to $60 per barrel and even higher. If an agreement does no take place the oil prices will drop to $40 per barrel possibly within few hours and gradually to $30 per barrel.

I do not know if OPEC meetings to freeze productions becomes a deal. Common sense reveals that the more members involved in order to reach an agreement the more difficult it will be to achieve the agreement and the deal can become even more difficult if between the negotiators there are geopolitical, historic, diplomatic disputes.