1，The United States exported more oil and petroleum products than it imported in September, becoming a net oil exporter for the first time in 70 years, according to data released by the U.S. energy information administration on November 29. And it looks forward to a trade surplus in us oil by 2020. It will have a negative impact on the price of oil.
2. The OPEC+ ministerial meeting, which will begin on December 5, December 6, is expected to maintain the status quo and deal a blow to international oil trade if all parties fail to agree on a decision to cut output.
3. From the technical trend, the overall decline from April 2019 to now is accompanied by turbulence, and the decline is likely to continue.
Recommand that take a short position at the higher price of oil.

Prediction of WITI

Dec 01 2020