Attention! Important information.

Dear visitor, your ip address refers to the country in which the company's services cannot be provided.
The list of these countries includes: USA, Japan, North Korea, canadian provinces of British Columbia, Quebec and Saskatchewan.

Please accept our apologies. With best regards, Bulltraders.com.

Last week began with the development of the situation with the possible membership of Brazil in OPEC.

The organization’s secretary general, Mohammed Barkindo, told reporters on the sidelines of the ADIPEC oil and gas conference that Brazil could attend the OPEC + meeting in Vienna on December 6 to discuss alliance production levels beyond March 2020.

In late October, Brazilian President Jair Bolsonaru said at the Future Investment Initiative forum that Brazil wants to become a member of OPEC, but there is no solution yet, it needs to be discussed. At the same time, he clarified that he must first consult with the ministers of economy and energy. Brazil participated in OPEC + technical consultations in 2016. However, after several meetings, Brazilian representatives said that the country does not intend to reduce oil production, since, on the contrary, they plan launching several promising projects. Brazil produces about 2.8 million barrels of oil per day.

Meanwhile, the upcoming OPEC meeting is already at the center of discussions of analysts. Bloomberg noted that although only a few weeks were left before the meeting, OPEC and its partners did not show signs of readiness for more decisive steps to maintain oil prices. Some experts are seriously considering the possibility of a collapse in the oil market early next year in the event of a new excess supply. Oil, now trading in London at around $ 62, could fall by almost 30% to $ 45 a barrel if the Organization of Petroleum Exporting Countries and the Allies do not announce a deeper reduction in production, analysts at Morgan Stanley said.

Experts from Citigroup Inc. and BNP Paribas SA forecast quotes to fall to $ 50. Such a development will aggravate the situation of OPEC countries such as Venezuela, Iran and Iraq, which are already experiencing an economic crisis and political protests. The collapse in prices will affect the entire industry, including the US shale boom, which brought the country to the world leaders in oil production. There is an opinion that at the moment, the expectation of an IPO Saudi Aramco keeps from falling oil prices. A lot of people are interested in the successful placement of the company, including, of course, banks, so all the efforts have been devoted to maintaining relatively high oil prices.

The Organization of Petroleum Exporting Countries itself is very likely to sharply worsen the forecast for 2020 for oil production by countries outside the cartel. In particular, we are talking about reducing the volume of shale oil supplies from the United States. At the same time, it is possible to increase the forecast for the growth rate of oil demand, especially if the United States and China sign a preliminary trade agreement. According to the OPEC long-term forecast, in 2019 oil demand is expected to reach 99.9 million barrels per day, and in 2020 - 101 million barrels. Gradually, demand will grow and in 2023 will reach 103.9 million barrels per day. OPEC previously stated that oil demand in developed countries will decrease by 9.6 million barrels per day by 2040, while in developing countries, on the contrary, it will grow by 21.4 million barrels per day. OPEC's demand growth rate will gradually slow down from 1.4 million barrels per day in 2018 to 0.5 million barrels per day at the end of the next decade. At the same time, the growth may stop completely by 2040, OPEC believes. The experts of the organization explain this dynamics by the slowdown in the Earth’s population and global GDP. Tightening energy efficiency standards and technological progress will also contribute.

Company news

22.11.2019 International exhibition London Summit 2019 Read more ...
21.11.2019 Week of the super benefits from Bulltraders.com! Read more ...
29.10.2019 Week of the super benefits from Bulltraders.com! Read more ...
15.10.2019 The winner of the "Big prize for a big date!" is determined! Read more ...
15.10.2019 The results of the intermediate draw. Read more ...
Show all

Expert view

15.12.2019 Fed's optimism Read more ...
15.12.2019 Long-expected IPO Read more ...
08.12.2019 US China deal: probable or unlikely? Read more ...
08.12.2019 OPEC+ to tighten the deal Read more ...
30.11.2019 Holyday mood at the US stock market Read more ...
Show all

Market news

Show all

The payment services are provided by Cauri LTD, 20-22 Wenlock Road, London, N1 7GU, UK, registered number 09507138
(check https://register.fca.org.uk), Win Pay (check http://win-pay.biz).

RISK WARNING STATEMENT. TO ATTENTION OF TRADERS AND INVESTORS!

Our services include products that are traded on margin and carry a risk that you can lose more than your initial deposit. The products may not be suitable for everyone - please ensure you fully understand the risks involved. There is a high level of risk involved with trading leveraged products such as forex and CFDs. You should not risk more than you can afford to lose, it is possible that you may lose more than your initial investment. You should not trade unless you fully understand the true extent of your exposure to the risk of loss. When trading, you must always take into consideration your level of experience. It is the responsibility of the Client to ensure that the Client can accept the Services and/or enter into the Transactions in the country in which the Client is resident. If the risks involved seem unclear to you, please seek independent advice.

 

CLIENT AGREEMENT PDF
PRIVACY POLICY PDF
RISK DISCLOSURE STATEMENT PDF
REFUND AND RETURN POLICY
AML&KYC POLICIES PDF
KYT POLICY PDF
FRAUD VERIFICATION PROCEDURE PDF
REGULATIONS OF TRADING PDF
RESPONSIBLE ATTITUDE