Traders Cut Bullish Bets on Oil Ahead of OPEC+ Meeting ...Middle East

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Traders Cut Bullish Bets on Oil Ahead of OPEC+ Meeting
source : OILPRICE ( Middle East ) () 25
Hedge funds and other institutional traders have reduced their bullish position on oil substantially ahead of the OPEC+ meeting on Thursday. In the week to November 21, bullish bets were slashed - with net-long positions being cut by over 19,000 positions to the lowest since June, Bloomberg reported, citing data from ICE Futures Europe and the CFTC. Long-only positions, meanwhile, also dropped by nearly 19,500 to the lowest since April. OPEC+ is meeting on Thursday to discuss production policies. News of internal disagreements added volatility…

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