Instrument
The S&P GSCI Crude Oil Total Return Index (OIL) reflects the returns that are potentially available through an unleveraged investment in the West Texas Intermediate crude oil futures contract. In other words, the return on the index is directly proportional to the return on the value of the crude oil futures contract. Therefore, the decision to invest in this index should be made after analyzing the oil market.
Analysis
On November 14, OPEC published its regular Monthly Oil market Report giving its first assessment of the OECD commercial oil stock closing levels