effects of OPEC decision on CAD
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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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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