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Video: OPEC's Output Agreement Can Drive Much more than Oil Price

Video: OPEC's Output Agreement Can Drive Much more than Oil Price

2016-04-15 22:20:00
John Kicklighter, Chief Strategist
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Talking Points:

  • A group of 18 OPEC and important non-OPEC oil producers are set to meet in Doha on Sunday, April 17
  • Speculation over impending production caps to curb the massive supply-demand imbalance have lifted oil since Feb
  • Crude's trajectory can influence country's economic health, comm currencies, Fed timing and even financial stability

See the DailyFX Analysts' 2Q forecasts for Oil, the Dollar, Euro, Pound, Equities and Gold as well as our favorite 2016 trading opportunities in the DailyFX Trading Guides page.

The repercussions of persistently low levels of crude oil prices span much further than just cheaper gas at the pump. Certain countries' GDP depends on the commodity. Some of these countries, in turn, have played a fundamental role in the world's economic and financial recovery - not to mention preserving its current stability. What's more, energy prices have played a key role in holding inflation pressures exceptionally low which is primary justification for the Fed to slow its pace of normalization or the ECB and BoJ to press negative rates and ever-larger stimulus programs. And, then there is the systemic financial risk posed by high-yield energy related loans that banks are increasingly writing off. Oil's influence runs deep, which makes this week's Doha meeting all the more important. The upswing in the commodity from February has been heavily sourced from speculation that production cap agreements are imminent. Will these expectations be fulfilled or will they be dashed? What will be the fallout and opportunities moving forward? We discuss that in the weekend Strategy Video.

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