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The deal of OPEC+ has been exceeded by 11%

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The deal of OPEC+ has been exceeded by 11%
October 25
09:00 2018

In September, OPEC+ countries made a deal to reduce “black gold” production. As a result, it has exceeded the plan by 11%. The Monitoring Committee has already expressed its deepest satisfaction with the results of the coordinated work of the parties. It was also noted that at that moment a comfortable level had been reached in the supply/demand balance.

However, there is also a fly in the ointment … The Committee expressed concern about the recent increase in “black gold” reserves. In the coming period, the world may experience economic uncertainties, as a result of which the cost of energy will be out of control.

The Technical Committee was instructed to monitor the situation, paying special attention to the market balance. In addition, the technical committee will have to examine prospects for the next year and develop strategies to prevent a state of imbalance in the energy market.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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