Crude Oil Sees Rise Over Rumors Online

With the falling price of crude oil becoming a serious concern for petroleum companies, the recent OPEC meeting will bring about a major change. With every major crude oil extractor present at the meeting, rumors have been floating around about the changes that they will make.

While people can only speculate what they might be changing until the official reports come out, some of the rumors online have been interesting to say the least.

With the current downtrend of the market, it is very obvious that the market is trying to get ahead of it. However, what way they choose to go about it will be very interesting.

Current Speculation on the Internet

Following the OPEC meeting, plenty of netizens have given their two cents on the changes that the board will be bringing. But one theory that is making the rounds online is that the board will cut down production by $2 million barrels every day.

This will eventually bring down supply, which can help them increase prices for each barrel. Despite being a rumor, this speculation has made waves in the market. Investors are looking to invest in oil, as the reduced supply can significantly drive up prices. That can allow investors to earn a much higher profit.

Consequences of the OPEC not making a Drastic Decision

The current state of the Forex market means that OPEC has to make a drastic decision, which could potentially lead to the market as a whole plummeting. Suffice it to say that OPEC has to meet the expectations of investors, or the market could see a sharp decline.

The consequences of their failure to make the necessary changes could lead to the market dropping below $85. The market in general has become very noisy, but many analysts have trouble believing that all of this activity is driven exclusively by a single rumor.

Many are holding on to the possibility that an inside source has leaked information about the turn that the market will be making. Therefore, investors have started flocking to invest in oil. But if the market doesn’t make a drastic step, then it is more than likely that the market will further plummet.

A Quick Look at the Current and Possible Future EMA

An important thing to understand about the market is that it needs to go over the 50-day EMA. If it does, prices could increase to $90, showing that the market is making considerable progress. And if it goes over 200-Day EMA, then it is likely that the market is making considerable progress.

But if the market drops below the $90 mark, then it is very possible that the market could drop by another $2.50. Therefore, if OPEC fails to make a drastic decision, then prices will drop to $82.50.