{"id":63,"date":"2018-11-21T06:30:00","date_gmt":"2018-11-21T06:30:00","guid":{"rendered":"https:\/\/blog.sevenstarfx.com\/?p=63"},"modified":"2023-08-26T10:20:25","modified_gmt":"2023-08-26T10:20:25","slug":"oil-excess-supply-and-oversold-position","status":"publish","type":"post","link":"https:\/\/www.sevenstarfx.com\/blog\/oil-excess-supply-and-oversold-position\/","title":{"rendered":"Oil Excess Supply and oversold position!"},"content":{"rendered":"\n<p>The Gold \u2018XAU\/USD\u2019 has a soft week ahead, while the oil has been a prime factor in determining the petroleum prices. According to Bank of China, GDP growth has actually triggered the oil market which has an excessive supply again that has actually added the speculators which are ditching the post long hold which is growing at the fastest pace on record. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"700\" src=\"https:\/\/blog.sevenstarfx.com\/wp-content\/uploads\/2019\/12\/zbynek-burival-GrmwVnVSSdU-unsplash-1024x700.jpg\" alt=\"\" class=\"wp-image-74\" srcset=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2019\/12\/zbynek-burival-GrmwVnVSSdU-unsplash-1024x700.jpg 1024w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2019\/12\/zbynek-burival-GrmwVnVSSdU-unsplash-300x205.jpg 300w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2019\/12\/zbynek-burival-GrmwVnVSSdU-unsplash-768x525.jpg 768w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2019\/12\/zbynek-burival-GrmwVnVSSdU-unsplash-1536x1050.jpg 1536w, https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2019\/12\/zbynek-burival-GrmwVnVSSdU-unsplash-2048x1400.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p> there has been never before. There has been output which has been surging 10.9 Million barrels\/a day. On the other hand, IRAQ output has been on the rise in the production while there has been major Kirkuk region which comes there is a back online. While more off setting than the IRAN has been hit sanction. <\/p>\n\n\n\n<p>While the Supply has already hit the OPEC Countries which has remained the strong that has stopped the US oil production that has been surpassing 12.3 Million barrels\/a day while there has been for the first time which was according to EIA.&nbsp; <\/p>\n\n\n\n<p>There should be a global oil growth market that has actually flipped back to all the situations, which has caused an excessive supply. There has been a major global oil market that seems to have a major flipped back to certain situations that has caused an excessive supply, while there has been resulting in the the decline of oil prices which has been caused by a major speculators. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-left\"><strong>Our View:  <\/strong><\/h4>\n\n\n\n<p class=\"has-text-align-left\">Buy for long term<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Gold \u2018XAU\/USD\u2019 has a soft week ahead, while the oil has been a prime factor in determining the petroleum prices. According to Bank of China, GDP growth has actually&hellip; <\/p>\n","protected":false},"author":2,"featured_media":288,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[332],"tags":[330,342],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Oil Excess Supply and oversold position!<\/title>\n<meta name=\"description\" content=\"Soft week ahead for Gold (XAU\/USD) as oil prices play a major role in determining petroleum prices and excessive supply. 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