Saturday , February 27 2021

The last minute: Oil fell hard, a dollar fell to 5.23!

With the expectation that OPEC and other producer countries would reduce supply in October, oil prices rose to $ 77 with oil and 87 cows rising to the last 4 years. The dollar so far has dropped to 5.22 today. With a 1.30 percent increase, the Turkish Lira has spoiled its losses completely in August and became the most valuable currency. Borse Istanbul won 1.5 percent.

Recovered under the value of 5.30 psychological effect when the back of the dollar has broken. Only the dollar was falling, Istanbul Borsa earned 1.5 percent. In particular, he drew attention to the increase in the shares THY, Petkim and the bank. Petkim shares increased by more than 4 per cent, while 2 per cent of MYN shares increased by 2 per cent to 3.5 per cent.


Currency exchange rates lead to a reduction of $ 4 billion original and the result of the reduction of hard oil prices to news reports coming out of pocket for the current current lack of deficit in Turkey is 10 per cent of energy in every movement made last fall in oil prices. With the US continuing its penalties on Iran through the energy sector, the news that the production quota ended on the side of Saudi Arabia accelerated the decline in prices.

The daily production of 10 million barrels from S. Arabia increased to 11 million barrels, boosting the perception that supply was more than demand, and oil prices dropped over 5 per cent Friday. Although Brent oil fell below the 60 dollar level, crude oil fell to the base of 50 dollars and all earnings were eliminated during the year.


OPEC and other producer countries will meet in Vienna on December 6 and meet at a supply cuts. Russia is expected to convince other countries to go for supply cuts, while prices are expected to be around $ 70, while Saudi Arabia supports supply cuts, but it continues to increase production.

Saudi Arabia's accusation for the murder of Cemal Kaşıkçı creates the expectation that the United States will operate in accordance with this demand. Experts say that Saudi Arabia wants the oil supply to be broken, but may not be able to take part in decisions because it is being removed & the US.


1-Improve links with the US and EU

2-Banks renew their syndication, and finally, Vakıfbank joins the caravan

3-Turkish exception of Iran sanctions

A decline of 4 months in the current lack of account

5-EDF reduces the likelihood of interest rate increase in the range

6-The increase in the possibility of AK Party and MHP as a league to the local elections


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