What is the significance of the 100-day moving average in oil trading?
Oil Market Latest: Russian Crude Output Drops
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Business, Architecture, Engineering
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University
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Hard
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The video discusses recent changes in the oil market, highlighting the impact of reduced Russian oil shipments and China's economic stimulus on oil prices. It covers the rise in West Texas Intermediate and Brent crude prices, noting the influence of market resistance levels and energy stock performance. The US government's revised 2023 oil market outlook predicts a tighter global market, with demand outpacing supply due to OPEC+ output cuts and increased Chinese demand. This shift is expected to exert upward pressure on oil prices.
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2 questions
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OPEN ENDED QUESTION
3 mins • 1 pt
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
What factors are contributing to the supply deficit in the oil market?
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