Saxo Group Videos

#OpecWeek: Hansen - How I'm trading the volatility

Ahead of OPEC's meeting this Friday, what should traders expect? Saxo's Ole Hansen believes it will stick to its current production target of 30 million barrels a day, even though it's been producing more over the last few months. He explains why a move higher could prove counter productive for the cartel. On the other hand, if crude prices increase, he says it could result in a return of US oil.

Hansen says net longs in both Brent and WTI have reduced over the last three weeks. He reminds viewers that OPEC's last meeting in November triggered a 10% sell off in the market. Although he doesn't expect 'fireworks' this time, he says the uncertainty is encouraging him to look at options. He describes what he's looking at in particular.

02:43 minutes
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