WEEKEND REVIEW: WTI near-term down before trend resumes higher

Markets are a DISCOUNTING MECHANISM they will discount today what they expect at some point in the future and if that expectation does not materialize the price will correct lower. Over the past few months, OPEC has been quite open about production cuts which would be the perfect recipe to push markets higher.

Huge overproduction while demand remained consistent at 1.5% caused the price to crash, OPEN is now addressing this issue.