Commodity Market Update : 3 reasons why oil prices will not soar despite OPEC output cuts .

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SINGAPORE (Sept 29): Oil costs surged on Thursday after individuals from the Organization of the Petroleum Exporting Countries consented to the layout of an arrangement to cut creation without precedent for a long time.

  • Be that as it may, Bank of Singapore Chief Economist Richard Jerram says the OPEC consent to lessen the world’s supply overabundance is “unrealistic to have a critical effect” on oil costs.
  • “[OPEC’s] capacity to decide costs has declined,” he includes.
  • Here are three reasons why Jerram trusts we shouldn’t celebrate just yet.

Our Recent Signal :

–COMEX HNI CALL: BUY CRUDE OIL 45.20 TARGETS  46.20   STOPLOSS 44.00

Update – OUR  TARGET HAS HIT IN CRUDE OIL 46.20 .

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