Asia Pacific Oil Stocks Remain Subdued

Oil Prices fail to post a sustainable rebound, though OPEC and Russia agree to cut output. And oil stocks are further weighed down by recent stock market weakness. The STOXX Asia/Pacific 600 Oil & Gas Index is trading within a Bearish Channel drawn from early October. Below Key Resistance 189.50, Downside Targets are at 164.00 and 158.00, both last seen in 2017.