In recent weeks, crude oil traded at a record high of $ 41 a barrel. For the week, crude traded at a record high of $ 41.40 on Monday, falling to $ 40. $ 75 a barrel, as OPEC meetings have not been able to finalize an assessment of the reduction in its oil production chain since January.

In the past few months, most of the demand for crude oil came from China, which has seen strong economic growth this August, while other countries in the European Union and the United States are struggling to find a way. Out of the crisis of 19 epidemics of Kovit, which led to a drop in demand for crude oil.

According to Reuters, "Prince Abdullah Zid bin Salman", Saudi Arabia's Minister of Petroleum Industry, has called on all OPEC allies to be active in the face of uncertain demand and provide some guarantees. This one market.

Oil investors are also waiting for a signal from White House lawmakers that they could approve a stimulus package ahead of the US presidential election amid threats to economic recovery. The recurrence of Kovit's disease.

If the current situation continues in October until the next OPEC meeting on November 30 and December 1, OPEC is likely to decide to cut production by less than one cut. 9 million barrels per day in January.


Trading Recommendation: Sell between $ 41 and $ 40.50.

Set hedging at $ 41.50

Set a profit margin between the first $ 40 and the second $ 39.

Analyzed by: Mr. Nhim Kosal

Chief Financial Advisor, Golden FX Link Capital