* Saudi Arabia will continue to voluntarily cut 400K B/D and will cut an additional -167K
*total OPEC+ cuts will amount to 2.1 million B/D after improved compliance.
OPEC+ showing readiness by meeting in March
*Aramco will start trading on Wednesday next week. There is an incentive for Saudi to keep the price elevated into the trading next week.
Impact: Positive for Crude oil
Crude oil has its support at 4100 and resistance at 4270.
Three Consecutive close plus weekly close and sustain above 4270 will see upside rally till 4450—4500 levels in days to come.
Fresh selling will do on a close below 4100 levels.