Oil Traders Expect Producers to Control Supply; FOMC Minutes, US CPI and Retail Sales in Focus

Crude oil prices recovered mildly after falling last week. Traders tend to believe that the OPEC/non-OPEC producers would strive to rebalance the market. As suggested by OPEC Secretary-General Mohammad Barkindo on Sunday, "there is a growing consensus that, number one, the re- balancing process is underway... Number two, to sustain this into next year,...

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Oil Traders Expect Producers to Control Supply; FOMC Minutes, US CPI and Retail Sales in Focus