Stock market quotes, forex, financial news, forex tools –

Oil becomes cheaper again due to the upcoming meeting of OPEC+

 Breaking News
  • Session begins with the growth of oil prices Today, oil quotes began to grow at the start of the session. We recall that yesterday, the trading was extremely volatile in nature. So, at 8.04 Moscow time, July contracts...
  • Kevin Mayer to head TikTok TickTock is a growing social network; its main content is short videos. The service belongs to the Chinese company ByteDance Inc. It became known that Kevin Mayer had made a...
  • Uber struggles with the crisis by firing employees Uber Technologies Inc., a well-known American taxi and food delivery company, is experiencing extremely hard times. The letter to employees, sent out by the Uber CEO Dara Khosrowshahi, has fallen...
  • US stock market news Last week, the last trading day ended with a good growth for US stock indices. However, positive Friday failed to “pull out” the extremely bad week. The statistics and the...
  • Oil grows due to the balance expectations The energy market ended the week in a “green zone”. The American WTI crude oil showed two-month highs on Friday. The European Brent did not lag behind the overseas brand...
Oil becomes cheaper again due to the upcoming meeting of OPEC+
November 21
09:00 2018

Once again oil has shown a drop. Investors are waiting for the meeting of the OPEC+ members in Vienna, which is scheduled for early December.

The January contracts of Brent have slipped by 0.3% compared with the previous session – up to 66.5 US dollars. Futures of the WTI crude oil (with a deadline in January) also have rolled back. They have lost 0.16% and  are currently being traded at $ 57.1 per barrel.

Yesterday the market was upheld by the reports from Europe that the EU would support sanctions against two Iranian citizens suspected of attacking the Iranian opposition in Paris.

The market expects that the States and Europe will act more forcefully towards Iran, as a result of which the price will crawl upwards.

Perhaps OPEC+ will decide to cut production. It has already been noted that a surplus is being formed on the market. If it continues, it will be decided to reduce the production.

Alexander Novak, Minister of Energy of Russia, believes that manufacturers should look at the results of November in order to have an idea of what will happen in the winter period.

“OPEC+ wants to impose restrictions in order to spur prices, but Russia’s representatives do not like that decision. In this case, Saudi Arabia’s responsibility for coordinating the current situation increases,” – said Robbie Fraser, an analyst at Schneider Electric.


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

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment