Oil reached highs of November last year

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The price of oil has reached the highs since November last year, is due to several factors, including production cuts by OPEC, sanctions imposed by trump against Venezuela, and the reduction of crude oil reserves in the United States. All of the above factors, against the backdrop of high demand for risky assets in the world, allowed to rise oil quotations so high.
Today oil continues to rise on the background of published yesterday its monthly report OPEC, which had indicated a course for the continued production cuts.
The technical picture shows a small correction after testing the strong resistance at the level of 68,15-68,30 dollars per barrel. Likely today, Brent crude will trade at level 66-67, $ 6 per barrel.
Oleg Bugulov,
Practicing trader-analyst,