Trump wants OPEC to increase production, oil prices drop

By MoneyWay | Mar 28, 2019

Trump’s concerns that oil prices are moving too high, reiterated his call for higher production levels, it is safe to say that both Russia and OPEC will ignore his comments as both are in dire need of a constant flow of funds. He has made requests in the past which been heeded to an extent, but with U.S. shale production impacting oil imports, this time his tweet is falling on deaf ears. Oil analysts believe that prices will move back up once this has blown over.

Currently             Close                     Range

USDCAD               1.3415                   1.3409                   1.3397-1.3440

EURCAD               1.5077                   1.5077                   1.5049-1.5114

GBPCAD               1.7560                   1.7688                   1.7542-1.7717

                                                                       Prior                      Actual

US:   Gross Domestic Product Q4/18         2.6%                      2.2%     

         Jobless Claims wk3/23                          216K                      211K

         Pending Home Sales February          4.3%                      -1.0%

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