Markets Rally, Oil Stumbles Ahead of OPEC Meeting

14th April 2016
Tain Capital

Markets Rally, Oil Stumbles Ahead of OPEC Meeting

After a bumper day for most of the major markets, Oil slipped off of its 4mth highs ahead of an OPEC meeting due later this week.

Both Brent and US Crude slipped on Wednesday trading as investors looked to the equity markets after positive data out of China.
US Crude fell 1% to end the day at $41.76 with Brent fairing worse falling 1.8% to end the day at $43.91.

Earlier in the week a news release suggested that both Russia and Saudi Arabia had reached an agreement to cap output over the coming months in an effort to stabilize the commodity.

Today however, both states independently confirmed that no such agreement had been made and that they had no intentions to cap production in the near future.

The OPEC meeting due in Doha on the 17th will see the key members look to address the recent glut on Oil prices and US record stockpiles.

Initially the Saudi lead group had suggested that they would look to cap production if all its members, including Iran, would reduce their output. The Iranians immediately confirmed they would not partake in an output freeze as they have only just started to benefit from a lifting of sanctions on one of its most abundant resources.

Both Brent and Crude has continued to fall in early Asian trading as investors continue to flock to the equity markets after the strong data out of China yesterday. The commodity should manage to stay above the $40 per barrel mark until OPEC meets in Doha on Sunday.

As a boutique private equity firm with global reach, Tain Capital endeavors to provide its investors with the benefits of being a relatively small independent company combined with the knowledge and experience of having its finger on the global pulse. Tain Capital investor relationships are based on trust, two-way communication, transparency, and continually exceptional performance.

As a boutique private equity firm with global reach, Tain Capital endeavors to provide its investors with the benefits of being a relatively small independent company combined with the knowledge and experience of having its finger on the global pulse. Tain Capital investor relationships are based on trust, two-way communication, transparency, and continually exceptional performance.

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Brian Davis
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This release was published on openPR.