There has been a sharp rise in the oil price in the last eight month and the month of October is also going to end with a positive gain. Investors are overly cautious since there is a small chance of limiting the oil production by the major oil production companies in the world to bring stability to the rising price. On November 30 the leading organization of the Petroleum Exporting Countries is going to organize a meeting to solve the major fluctuation in the oil price in contrast to its production. Though this event is going to play important role in the oil production but investors are considering it as a small catalyst since there is lots of other organization directly involved in this sector. Oil has been trading in a narrow base after hitting a critical support in 2016.According to Adam Koos, President of Libertas Wealth Management Group, there remains a clear indecision in the price of oil since supply and demand of the oil price is not aligned to the consumer’s sentiment. The chaotic move and indecision in the oil market have forced many leading investors to close their open order in the market so that their hard earned profit is safe. They are most likely to stay on the sideline until the market gives them clear indication about their move in the financial industry.
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