VelocityShares 3x Long Crude Oil ETNs linked to the S&P GSCI Crude Oil Index ER UWT

$14s won't last long... Oil about to take off.

[PROtrading]

https://uk.reuters.com/article/uk-russia-oil-opec-stetement-idUKKBN184122?il=0

"Russia expresses its full solidarity with the efforts of our partners aimed at rebalancing the global oil market and believes that joint efforts to date have been very effective. We see high discipline among participants of the joint initiative, which has allowed them to already reach 100 percent conformity with the earlier announced levels, which is the equivalent of a cumulative voluntary reduction of production by a total of c. 1.8 million bpd (barrels per day) compared to October levels. Maximum conformity and a seasonal pick up in demand will further enhance the initiative's positive impact on the market in the coming months. We are discussing a number of scenarios and believe extension for a longer period will help speed up market rebalancing.

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