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16.04.2015 - The price of oil may continue to decline after the strong growth

The price of oil today began to correct down after a strong growth of quotations caused by the publication of data on the weaker growth in US oil inventories by 1.3 million barrels compared with an expected 3.5 million barrels. At the same time, OPEC has published a report according to which the oil production in the US and Canada will be reduced by a decline in the number of drilling rigs in the region. At the same time, the volume of oil production in OPEC rose by 810 thousand barrels per day due to increased production in Saudi Arabia, Iraq and Libya. Analysts expect the outcome of the negotiations on Iran's nuclear program, which may increase the country's oil exports to 1.5-1.8 million barrels per day in 2016. We forecast a drop in prices of oil will resume in the near future and we keep the medium-term outlook for oil.

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RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.
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The CIF license of PFX Financial Professionals Ltd has been suspended by the Cyprus Securities and Exchange Commission until the 24th of December 2016. Please click here
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