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CapitalStars Financial Research Private Limited., SEBI REGISTERED, CRISIL- NSIC RATED,ISO 9001:2008 www.capitalstars.com www.capitalstars.com | | CapitalStars Research CapitalStars Research CRUDE OIL SPECIAL REPORT JULY For free trails Contact on +91 731 6669900, +91 731 6790000
CapitalStars Financial Research Private Limited., SEBI REGISTERED, CRISIL- NSIC RATED,ISO 9001:2008 FUNDAMETNALS Goldman Turns Bullish On Oil. A terrorist group in Nigeria, known as the Niger Delta Avengers have carried out a number of militant attacks on foreign oil companies. If the tentative agreement is sustainable, it could lead to higher crude output, with the Nigerian government “optimistically” predicting a return to normal levels by the end of July, analysts including Damien Corvallis wrote in a note dated June 29. Nigeria’s oil production is currently at its lowest levels since 1988 and has been a major catalyst in the recovery of oil prices. Goldman Sachs had earlier indicated that prices would go over $50 per barrel in the second half of 2016. UK Oil Demand is 1.6% globally the kingdom's production has been around 10.2 million barrels since the start of the year. Britain is now the world’s 15th largest oil consumer, ranking far behind the United States and China but also behind Brazil, South Korea, Germany, Canada, Iran, Mexico and even Indonesia. For free trails Contact on +91 731 6669900, +91 731 6790000
CapitalStars Financial Research Private Limited., SEBI REGISTERED, CRISIL- NSIC RATED,ISO 9001:2008 Even if the vote ushers in a period of uncertainty and causes the economy to slow or even contract, the impact on oil demand will be too small to register on a global level. The more serious impact would be if there is contagion to the rest of the European Union, which consumes around 11.1 million bpd, only slightly less than China. But Europe’s consumption has also been flat or falling since 2005 so a slowdown or recession in the rest of the European economy would have only a modest impact on global demand. Calls for Second Referendum Grows A petition calling for second referendum on membership of the EU has attracted 3.6 million signatures, it has called for to implement a rule that if the remain or leave vote is less than 60% based a turnout less than 75%, than there should be another referendum. Former Prime Minister Tony Blair said that even though he could not envisage another referendum being legally called, it was not impossible for it to happen. The world's largest oil exporter and OPEC heavyweight produced 10.262 million bpd in April, compared with 10.224 million bpd a month earlier, the data showed. Potentially adding to supply, Iran has increased its crude exports capacity at its main terminal on Kharg Island to allow eight tankers to load simultaneously, the oil ministry's news agency Shana reported on Monday. With oil prices up more than 30 percent this year, shale drillers are looking at turning the taps on again and have proved resilient beyond Saudi and OPEC expectations. For free trails Contact on +91 731 6669900, +91 731 6790000
CapitalStars Financial Research Private Limited., SEBI REGISTERED, CRISIL- NSIC RATED,ISO 9001:2008 The OPEC Reference Basket (ORB), also referred to as the OPEC Basket, is a weighted average of prices for petroleum blends produced by OPEC countries. It is used as an important benchmark for crude oil prices. Since January 1, 2016, the OPEC reference basket consists of a weighted average of the following crudes: •Saharan Blend (from Algeria) •Girassol (from Angola) •Oriente (from Ecuador) •Minas (from Indonesia) •Iran Heavy (from Iran) •Basra Light (from Iraq) •Kuwait Export (from Kuwait) •Es Sider (from Libya) •Bonny Light (from Nigeria) •Qatar Marine (from Qatar) •Arab Light (from Saudi Arabia) •Murban (from UAE) •Merey (from Venezuela) Monthly Oil Market Report: BY OPEC •Tuesday, 12 July •Wednesday, 10 August •Monday, 12 September •Wednesday, 12 October •Friday, 11 November •Wednesday, 14 December For free trails Contact on +91 731 6669900, +91 731 6790000
CapitalStars Financial Research Private Limited., SEBI REGISTERED, CRISIL- NSIC RATED,ISO 9001:2008 TECHNICAL VIEW MCX CRUDE OIL as seen in the monthly chart for the month of June opened at 3304 levels and made low of 3115 levels. During this period prices corrected & made high of 3439 levels finally closed at 3304 levels. Now, there are chances of upward movement technically & fundamentally. Technical view: Crude oil in the Month of June open and close at 3304, made high 3439 but not sustain at the highs. As per candlestick pattern it has doji, trend may be possible to reverse to downside. For free trails Contact on +91 731 6669900, +91 731 6790000
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