2022/10/31 (100) Technical Analysis

As Expected, UKOIL Oscillates Around 95 $
– At Times Days Below, Weeks Below & Then Above Again.
Inflation Won’t Come Down! Price Over 100 $ Realistic Again? Watch After…

According To Their Own Statements The OPEC States Want To Produce Less Crude Oil From November

The OPEC states want to produce less crude oil from November – which should not drive prices down and/or will continue to put pressure on prices in the USA and Europe. The political class of our so-called West, with its outspoken moral snobbery, in the form of a green transformation, under the cloak of liberal liberty, which no consumer needs, just tax-financed bureaucrats, need not be surprised that the Muslim brokers, you black Oil, not currently offering it in abundance on the market to depress the price – after the last months, years, almost decades (after the end of the Cold War, early 1990s).

Overrated, superficial politicians from our so-called West are now, if I may write so, experiencing something like the high point of feudal democracy. Ever since the end of the Cold War (since the early 1990s). Where the political class, of your populace who should represent you and not ask you to pay, got drunk on itself with senseless tax hikes to fund its own selfish bureau. In leftist and/or Christian parties, under the guise of green democracy and liberal freedom, on a political level – and in Silicon Valley on a private level. Which is why taxes and share prices have shot up to absurdly historic highs to date.

The US Energy Policy And/Or Even Economic Is A Pure Disaster For Consumers & Tax Payers

Be that as it may, the Biden administration announced this week that it would release almost 15 million barrels of oil from the US strategic reserve to the market. after she had first, immediately after his inauguration, politically decided the production of oil, legitimized by the state. So not only just before the midterm elections, but even more so at the beginning of the year, the US government began using the release of oil from the country’s strategic reserve. What a moronic self-destructing incompetent political theather – and only because of an unprofitable political green ideology, only worth your propagandists! Instead of growing more potatoes on the farmland, as every farmer knows, as you and the entire village want and can eat, so that prices stay down – like under Donald J. trump when the USA exported oil abroad for the first time – fetched In the course of the year, the current US President, Biden, only expressed a political rejection of oil exports to the USA by the Muslim oil producers in the Middle East. Just ridiculous and incompetent his reasoning to now try to get a grip on the rising oil and petrol prices! How stupid does he think his voters are? Naturally, after Russia’s invasion of Ukraine, which was contrary to international law, the energy piracy increased by leaps and bounds. The government planned to release a total of 180 million barrels of crude oil to the market between March and October. Now the Biden administration has changed plans to release the last 15 million barrels of those 180 million barrels in December instead of October.It goes without saying that this reason for this change is probably also politically motivated! Or? Midterm elections for all members of the US House of Representatives and a third of the members of the US Senate are due in November. At the moment it looks like the Republicans have the edge, also because of what I just briefly outlined, because the prices for gas and energy are still far too high. However, it has been rising steadily since 2021 – i.e. since Sleepy Joe and the US demo cards in the White House have the last decisive word. If it comes to pass, as the Democrats fear and also, to my amazement, CNN now almost assumes that the Republicans could organize a political majority in both cases, which I do not assume, although I support it, it will be in US politics come to a political stalemate. The Democrats currently have a razor-thin majority in the House of Representatives, ahead of the Republicans. In the Senate, on the other hand, the forces are almost balanced. If Republicans gain a majority in Congress, Biden’s legislative agenda will likely be blocked for the next two years. As a friend of the USA, you can only support this – but I don’t assume there will be a so-called political red wave in the USA. I perceive the whole thing, here from my study, across the media, to remain honest, more as a political wishful thinking of the red than, oh rather, a fearful vision of the blue…

Still Excepting An Oil Price Action Around 95$ In UKOIL

While the latest quarterly report from Bureau of Economic Analysis indicated that the US economy grew by 1.8% (annual growth rate, yoy), the report also highlights some of the concerns pertaining to the US economy. Much of the growth stemmed from increased exports and a narrowing trade deficit, which is unlikely to continue, given the strength of the US dollar and the relative weakness of the major trading partners. Consumer spending increased by only 1.4%, while gross private domestic investment decreased by 8.5%. Residential investment decreased by 26.4%, which indicates the downturn in homebuilding and the real estate market. Additionally, i am afraid, like surely the most financial market participants, about the action plan of the fed – in their fight vs. Inflation. The stock market price action on wallstreet drived up last days and/or weeks, may be because the fed will not be so agressiv. An legitimized hope! But how should the fed fight inflation, if not with higher rates as inflation? That`s why the fed is in the dilemma and worried that they could being too aggressive in raising rates and will ultimately push the us economy into recession – and the us wallstreet into new lows. „As we pointed out earlier this month, the current pace of rate increases is twice that of any of the previous cycle of rate increases since 1988. Additionally, a significant portion of the inflation is related to ongoing supply chain issues and increases in commodity prices because of supply/demand fundamentals – neither of which the Federal Reserve can directly affect.“, wrote John E. Paisie, President of Stratas Advisiors, in his Weekly Oil Price Oitlook, on weekend.

Oil Extends Losses

WTI crude futures extended losses below the $85 per barrel mark on Monday as lingering fears of a global recession and weak oil demand, especially in China, rattled investors. Factory activity in the world’s top crude consumer missed expectations fuelling concerns that renewed coronavirus-induced restrictions will hurt economic activity and suppress oil consumption. Still, the US benchmark rallied more than 9% in October, putting it on track for its first monthly gain in five amid tight global supplies. OPEC and its allies, including Russia, agreed to cut production by 2 million barrels per day in November, the most significant curb since the start of the pandemic, while speculation grows that the oil cartel will further intervene in markets to shore up prices. The European Union ban on Russian oil is also set to take effect in December as part of broader sanctions for the invasion of Ukraine.