{"id":6206,"date":"2018-12-08T12:56:49","date_gmt":"2018-12-08T12:56:49","guid":{"rendered":"http:\/\/en.azpar.com\/?p=6206"},"modified":"2018-12-08T13:18:10","modified_gmt":"2018-12-08T13:18:10","slug":"iran-exempts-from-opec-production-cut","status":"publish","type":"post","link":"https:\/\/en.azpar.com\/?p=6206","title":{"rendered":"Iran exempts from OPEC production cut!"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market News<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u2013 On their latest meeting,&nbsp;OPEC&nbsp;members agreed on a production cut addressing the oil prices massive falls during the last month. The good news is that considering the US sanctions, Iran got expected&nbsp;from OPEC production cut along with Libia and Venezuela. OPEC members and Russia agreed to cut their production by 1.2 mn barrels per day (800K for members and 400K for non-members). The global oil prices rose by 5 % in the wake of this agreement.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2013 After a temporary&nbsp;halt of banking transaction between Iran and China, the head of Iran-China CC has announced that these transactions, mostly with&nbsp;Bank of Kunlun, got normal and even the two nations create some new channels for transferring funds. The US sanctions and eventually China oil purchases stop are the two main reasons behind the hiccup between Iran-China banking transactions. However, it seems that Chinese authorities imposed another layer of scrutiny in doing business with Iran.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2013&nbsp;<strong>Agah<\/strong>&nbsp;analysis of individuals participation trend shows that since the start of 1397 (Apr 2018) a figure of IRR 61,880 bn (USD 520 mn @USD\/IRR 119,000 \u2013 free market FX rate) has been injected to the market by individuals and nearly 50% of which (IRR 31,980 bn \u2013 USD 268.74 mn @USD\/IRR 119,000 \u2013 free market FX rate) has been withdrawn from the market. Below picture shows the details:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"http:\/\/agahgroup.com\/wp-content\/uploads\/2018\/12\/2018-12-08_142617.jpg\" alt=\"\" class=\"wp-image-15996\"\/><\/figure><\/div>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">In the Market<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the improving global oil market along with a mildly positive performance of global commodities, equities closed mostly near the other day\u2019s flatlines.&nbsp;<strong>TEDPIX (+0.13%)<\/strong>&nbsp;experienced rather balanced trades as investor took precautions regarding their investments.<strong>&nbsp;IFEX (+0.74%)<\/strong>&nbsp;also performed moderately&nbsp;today az its mega-caps had a slightly green day and settled finally at&nbsp;<strong>1,858.34<\/strong>&nbsp;level.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Isfahan Mubaraka Steel Co.&nbsp;(FOLD, -1.08%)<\/strong>&nbsp;poor performance within the<strong>&nbsp;Metals (-0.74%)<\/strong>&nbsp;space was reflective of the ongoing effort to liquidate\/reduce exposure to the market\u2019s most heavily-weighted group. The sector\u2019s non-response toupbeat exports report was also indicative of the negative sentiment hanging over the sector. Between the sector\u2019s tickers, only&nbsp;<strong>Isfahan Steel Co. (ZOBZ, +4.55%)<\/strong>&nbsp;ended the day with a massive buy queue amid the news of its extraordinary performance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Elsewhere, the news of a free market pricing scheme for automakers made the day for small-cap&nbsp;<strong>Auto (+4.48%)<\/strong>&nbsp;sector tickers with almost all of its tickers ended the day in heavy buy queues. The industry also sat on the throne of highest traded volume of the market today, yet investors must be alarmed as the sector has super poor fundamentals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, within the&nbsp;<strong>Banking (-1.53%)<\/strong>&nbsp;sector, mid-weighted stocks were one of the most-heavily hit groups today as concerns over CBI\u2019s green&nbsp;light&nbsp;for a free market FX translation rate&nbsp;along with ambiguities of&nbsp;troubled banks capital raising got stronger.&nbsp;<strong>Mellat Bank (BMLT, -3.18%)<\/strong>&nbsp;placed \u2013<strong>93.54<\/strong>&nbsp;red points on the overall index as the trend of individual\u2019s cash withdrawal continues.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"http:\/\/agahgroup.com\/wp-content\/uploads\/2018\/12\/2018-12-08_134329.jpg\" alt=\"\" class=\"wp-image-15989\"\/><\/figure><\/div>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"http:\/\/agahgroup.com\/wp-content\/uploads\/2018\/12\/2018-12-08_134335.jpg\" alt=\"\" class=\"wp-image-15990\"\/><\/figure><\/div>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"http:\/\/agahgroup.com\/wp-content\/uploads\/2018\/12\/2018-12-08_134340.jpg\" alt=\"\" class=\"wp-image-15991\"\/><\/figure><\/div>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"http:\/\/agahgroup.com\/wp-content\/uploads\/2018\/12\/2018-12-08_134347.jpg\" alt=\"\" class=\"wp-image-15992\"\/><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Source:<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>2018, <\/em>Iran exempts from&nbsp;OPEC production cut!<em>, Saturday, Dec 08, p.1,<a rel=\"noreferrer noopener\" aria-label=\"2018, New derivatives soon to be on the Tehran Stock Exchange!, Tuesday, Dec 04, p.1,<https:\/\/agahgroup.com> (opens in a new tab)&#8221; href=&#8221;http:\/\/agahgroup.com\/iran-exempts-opec-production-cut\/&#8221; target=&#8221;_blank&#8221;>&lt;https:\/\/agahgroup.com&gt;<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market News \u2013 On their latest meeting,&nbsp;OPEC&nbsp;members agreed on a production cut addressing the oil prices massive falls during the last month. The good news is that considering the US sanctions, Iran got expected&nbsp;from OPEC production cut along with Libia and Venezuela. OPEC members and Russia agreed to cut their production by 1.2 mn barrels [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":6207,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,28],"tags":[],"class_list":["post-6206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-news"],"_links":{"self":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/6206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6206"}],"version-history":[{"count":4,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/6206\/revisions"}],"predecessor-version":[{"id":6213,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/6206\/revisions\/6213"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/media\/6207"}],"wp:attachment":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}