effects of OPEC decision on CAD

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anurag bhargava
564
anurag bhargava  

what are the effects of OPEC decisions on CAD, as it has adverse effect from US oil inventories.

what impact does it have from OPEC

Sergey Golubev
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Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Forecast and levels for Brent Crude Oil

Sergey Golubev, 2017.06.29 12:48

Just some continuation related to CAD with Oil:

  • "The main reason behind the unchecked drop in crude oil prices is that the supply of oil in circulation is more than the demand.  OPEC is working hard to find a way reduce the supply of oil the market but the resilience of U.S. shale oil producers has almost rendered OPEC's efforts null and void."
  • "The decline in crude oil is depressing many currencies and the weakness is particularly obvious in commodity-linked currencies such as Norwegian crown and the Canadian dollar. For instance, the Canadian dollar is down to a three and half-month month low to C1.3165 to the dollar."



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