OPEC warns: actions speak louder than words

OPEC warns: actions speak louder than words OPEC+ is planning the next meeting for June 3-4, so the blackmailing of the market has already begun. Energy prices are still suffering from the unexpected actions of the Cartel in April, and we are again being threatened by another production cut.At the Qatar Economic Forum in Doha on Tuesday, Saudi Arabia's energy minister promised more trouble for oil speculators as the market has again been dominated by a net medium-term short in recent weeks amid fears of a weakening global economy. The bears that fell into the April short squeeze are returning to the market: speculative positioning is so extreme that the reaction of key OPEC members is fully justified.The prince confirmed that OPEC remains a stabilizing force and does not try to put pressure on prices. He blamed market volatility on erroneous forecasts and the policies of consuming countries, such as the sale of oil from the US strategic reserve.Iraqi Oil Minister Haiyan Abdul Ghani, who also participated in the discussion in Qatar, said that Baghdad is committed to the latest OPEC deal to cut supplies.Comments from senior officials briefly dominated PMI's weakness and doubts about the US debt ceiling. Prices have slowed down a bit but are still rising after industry data showed US stocks of crude oil and fuels have fallen sharply.However, there is no clear signal on the market that OPEC and its allies, including Russia, are ready for further production cuts. The threats of officials and public reflections of analysts are just informational noise to scare small sellers and even out the balance of volumes before the summit.In any case, you need to be very careful when opening new positions.Profits to yall!#ForexChief #opec #stocks #Market #forexnews #wti #worldnews #brent #cartel