[서울경제TV 해외선물 No.1] Ato Trader March 4 Overseas Futures Market Status

[서울경제TV ‘해외선물 NO.1’ 퓨처온 소속의 아토 트레이더]

WTI (April) closed higher due to expectations of OPEC+’s production cuts ahead of today’s OPEC+ meeting, geopolitical risks in the Middle East, and a plunge in gasoline stocks in the US.

Currently, the market is focused on the results of the OPEC+ meeting scheduled for this evening. The most important point is whether Saudi Arabia’s additional subtraction of 1 million bps will be extended, withdrawn or gradually reduced, and whether the reversal of production cuts will reach the maximum width of 500,000 bps. It should be noted whether or not a new quota will be imposed on Iran as it loses.

[2021년 3월 4일 Crude oil 선물지수 전략]

[2021년 3월 4일 Crude oil 선물 지수 240 분봉]

International oil prices (WTI) ended higher at the OPEC+ meeting on the previous day, as foreign media reported that oil production could be frozen unexpectedly. The market consensus supported the oil price of $60 the previous day again, as OPEC+ showed a different movement from the market that it expected to increase production of 500,000 barrels per day on average.

However, a key point to watch that will determine the direction of oil prices in the market is not whether OPEC+ will increase production, but whether Saudi Arabia will voluntarily extend or withdraw production cuts in April.

Currently, the most promising scenario is to increase production but agree to revert production cuts of 300,000 to 700,000 bpd.

As the results of the OPEC+ meeting scheduled for this evening determine the mid- to long-term direction of oil prices, Crude Oil must watch until the results of the meeting come out.

Ato Trader, a member of FutureOn, is currently appearing on Seoul Economic TV.

His overseas futures investment strategy can be seen through the live broadcast of’Overseas Futures No. 1’every night from 23:00 to 24:00.

*The content of this article is an expert’s personal analysis. Please pay attention to investment

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