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Reported on Monday, January, Iraqi Oil Minister Al Abilb said late on Sunday local time that Iraq would put forward three new proposals at a technical meeting in Vienna this week to discuss the OPEC production reduction agreement. This is the latest sign that Iraq is one step closer to resolving its differences with OPEC. In addition, Russian President Vladimir Putin once again expressed optimism about the OPEC agreement. The two men's statements jointly raised oil prices. As of Beijing time, crude oil was quoted in US dollars per barrel, rising.
Aluaibi said that the new proposal will be consistent with OPEC policy and is proposed to ensure unity within OPEC. However, the oil minister has only recently started a war with OPEC over the extent of Iraq's production cuts. Aluaibi declined to provide further details on the new proposals. He told the Wall Street Journal
The choice we make is based on other variables, and this choice will also make it easier for OPEC to reach a decision. All three recommendations are reasonable and consistent with OPEC policy.
From Monday to Tuesday this week, OPEC will hold a so-called technical meeting at its headquarters in Vienna to discuss the specific implementation mechanism of the preliminary agreement this month. The technical meeting will prepare for the OPEC Ministerial Meeting to be held in Vienna on October 1.
"Nan Shang Asphalt Technical Analysis"
Judging from the daily chart of Nan Shang Asphalt, the current line is running at the middle and lower Bollinger Bands, the Bollinger Bands have begun to shrink, and the upper part is suppressed by the Bollinger Middle Track, and the indicators are showing Golden cross, the green kinetic energy column shrinks, and the three lines of the stochastic indicator go flat. On the hourly chart, the line runs above the Bollinger upper track, the Bollinger Bands open, the indicator runs upward, the red kinetic energy increases, and the stochastic indicator three lines turn downward and run downward. On the four-hour chart, the line runs above the Bollinger upper track, and the Bollinger Bands open. The opening is running, the indicator is running upward, the red kinetic energy is increasing, and the three lines of the stochastic indicator are running upward. Although there is currently too much news in the market, as the OPEC production reduction meeting approaches, the direct impact has received widespread attention from the market. It is expected that before the results appear, prices will still develop towards a bullish trend. In terms of operation, Fan Linyu recommends mainly going long when the price falls back.
Nanshang Asphalt Strategy
Long orders opened sharply higher on Monday, the indicators deviated, and there was a callback to repair the gap. Those with short positions should not pursue long positions in the morning.
In the afternoon, wait for the pullback to the first line before going long, stop the loss, and close the position if the profit reaches the first line
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