Oil price rebounded from USD44 last week. Two weeks later will be OPEC meeting, and market has been speculating whether any further extension of production cut dished out by OPEC. US shale production has been rising on consecutive months, which trap the oil in range bouncing. Immediate support ~37 and resistance ~53.
Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)
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