Sliding prices since last summer prompted OPEC to set a goal of taking 4.2 million barrels per day off the market since September.
According to a Reuters survey of oil firms, OPEC met about 81% of its pledge to cut production by February. The group pumped an estimated 25.62 million barrels per day down from 26.27 million per day in January.
OPEC's production cuts have succeeded in slowing oil's rapid price decline, according to Flynn. But people think that "OPEC won't matter if this economic crisis continues to fester," he added.
I understood it back last easter n summer when everyone said i wouldnt be able to make a living out of trading,
but i proved everyone wrong and turned £759 into over £28,000profit in 6months.
Ive now had to cut my size down alot as market conditions changed before i changed my style,
but am managing to scrape through still.
But i just dont get what is enthralling about me and my traidng that makes you and thousands of others on t2w still stalk me and have a view on every aspect of all my trades??
:eek:
If he can make over 1,000% profit in 5months then will take his advice as he will have done what i did so be in a position to offer me trading tips.
But until he can do that why would i listen to some wierdo bloke who i dont even know..
I am the 1 who turned £759 into £28k+, im the 1who even after taking some bad losses ive been making a lviing from trading with a 4digit account,
and so i can keep going myself for as long as i choose to keep trading.
He's not gonna get through. Spanish did make some money (not as much as 28k tho, lol) but then he lost it all, lol. Big deal. Anyone can make loads trading without stops until one trade goes wrong. He doesn't understand this concept. Its nice if people to try and save him some more money tho.
The 13-member cartel plans to meet on March 15 and may add to 4.2 million barrels a day of output cuts announced since September.
Without providing specifics, Iran's official news agency said Tuesday that the country's oil minister would propose ways to boost oil prices at the meeting in OPEC's Vienna headquarters.
Gholam Hossein Nozari was quoted as saying that the group's compliance with the cuts stood at about 80 percent and said it was ready to slash output by 500,000 to 600,000 barrels per day to fulfill its promise
Sliding prices since last summer prompted OPEC to set a goal of taking 4.2 million barrels per day off the market since September.
According to a Reuters survey of oil firms, OPEC met about 81% of its pledge to cut production by February. The group pumped an estimated 25.62 million barrels per day down from 26.27 million per day in January.
OPEC's production cuts have succeeded in slowing oil's rapid price decline, according to Flynn. But people think that "OPEC won't matter if this economic crisis continues to fester," he added.
I have had computer issues which were resolved my buying a new pc.
Back to trading daily now.
I have just put on a April-May CL calander spread. I got a $1 spread. I went for the month after the front month as there is already a $2.5 spread on the front month. I'll have to wait 5 weeks to see how this one works out, but fingers crossed.
I think what you bought is May-June calender spread when checked the price it shows around $1
April-May calender spread is trading at $1.20 . I feel this will rise faster than May-June because in 2 weeks from now (after March 20) this April contract become 'current active one' , if everything goes well this $1.20 can turn to $2 by March 20 th.
I am looking into more details , I will post as I find , I will be buying one of these too.
note: in oil contracts are traded for front month , for example when we say 'April' calender contract the actual quote on screen shows 'MAY 09' contract . so on screen quote for spread shows
MAY 09 short/JUNE 09 long at $1.20 for April-May calender spread
