Opec indecision forcing traders out of extended long positions

Opec's surprise announcement in Algiers on September 28 to support oil markets by the first cut to production in eight years helped trigger a 15% rally and the biggest in speculative buying on record. Verbal intervention however is no longer enough when action has been promised and as a result oil is back under pressure as Opec struggle to reach consensus.

from Ole Hansen - Authored content https://www.tradingfloor.com/posts/opec-indecision-forcing-traders-out-of-extended-long-positions-8176166?utm_medium=tf4-feed&utm_source=extract