On Monday, crude oil lost 2.84% as a meeting between oil ministers from Saudi Arabia and Venezuela didn’t bring news about a date for an emergency summit. In this environment, light crude slipped to the barrier of $30, approaching last week’s low. What impact could it have on the price in the coming days?

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The price of crude oil has once again declined on Friday, which was in tune with our expectations and which further confirms the assumption about the significant price pattern being formed. What are the implications?

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On Thursday, crude oil lost 3.24% as Saudi Arabia didn’t confirm an OPEC meeting. Thanks to these circumstances, light crude came back to the declining trend channel and closed the day under $32. What’s next?

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On Wednesday, crude oil shrugged off bearish supply data and rallied above $32 as prospects for OPEC meeting weighed on investors’ sentiment. As a result, light crude came back above the upper border of the short-term declining trend channel, but did this increase change the medium-term outlook?

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On Tuesday, light crude lost 5.14% on news that Iran is planning to export 2.3 million barrels per day of crude oil as early as next month. Thanks to these circumstances, the commodity slipped under the barrier of $30 once again and closed the day below it. Will we see fresh lows in the coming days?

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