More Support For The Oil Market

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About: iPath S&P GSCI Crude Oil Total Return Index ETN (OIL), Includes: AOIL, BNO, DBO, DTO, DWT, NRGD, NRGO, NRGU, NRGZ, OILD, OILK, OILU, OILX, OLEM, OLO-OLD, SCO, SZO, UCO, USAI, USL, USO, USOD, USOI, USOU, UWT, WTID, WTIU, YGRN
by: Oleh Kombaiev
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Oleh Kombaiev
Commodities, internet, medium-term horizon, ETF investing
Summary

Saudi Arabia once again showed its willingness to support the oil market.

Global oil stocks will not change significantly in the coming quarters.

In the context of supply and demand balance, the oil market has a fundamental support now.

Instrument

The S&P GSCI Crude Oil Total Return Index (OIL) reflects the returns that are potentially available through an unleveraged investment in the West Texas Intermediate crude oil futures contract. In other words,