Tag Archives: OPEC+

Wednesday pullback of US stocks proved that the previous two day rally was short-lived. The scene is set for further volatility, after a stormy trading day. The S&P 500 tumbled 1.4%, while the Dow Jones Industrial Average slid 340 points, or 1.1%. The technology-heavy Nasdaq Composite led the way down …

US President Joe Biden is disappointed by the OPEC+ group’s ‘shortsighted decision’, the White House said on Wednesday, as reported by Reuters. Following its 33rd Ministerial Meeting, OPEC+ announced that they will adjust downward the overall production by 2 million barrels per day starting November from the August-2022 required production …

OPEC + decided to cut production by two million barrels per day during the meeting that ended a while ago in Vienna. According to the news, the reduction will take effect next November. Oil prices reversed their downward trend after the OPEC + decision was issued, to start recording increases …

OPEC+ key ministers, known as the joint ministerial monitoring committee, has agreed on oil production cuts of 2 million barrels per day, three OPEC+ sources said according to Reuters.

Markets were generally optimistic for a second consecutive day, leading to a continued dollar selloff after five-day loss streak while other financial assets were not shy to immediately benefit from the softer American dollar.Government bonds kept recovering ground, keeping yields under pressure, which weighed on the US dollar. The EUR/USD …

Oil has jumped by nearly $3 a barrel on Tuesday on expectations that Wednesday’s OPEC+ meeting could decide a large cut in crude output as the retreating US dollar made oil purchases cheaper.OPEC+ will consider output cut on Wednesday’s meeting. The move could put supply under pressure while the energy …

Oil prices jumped by nearly $4 on Monday, October 3, as the OPEC+ group considers cutting production by more than one million barrels per day, what would be the largest cut since the Corona pandemic, in an attempt to support the market. Brent crude futures rose $3.64, or 4.3%, to …

Oil prices dipped on Friday in mixed trading but notched its first weekly gain in five on Friday, underpinned by the possibility that OPEC+ will agree to cut crude output when it meets on October 5.Brent crude futures for November, which expire on Friday, fell 53 cents, or 0.6%, to …

Oil prices are heading for their first weekly gain in five weeks on Friday, supported by the decline in the US dollar and the possibility of the OPEC + group agreeing to reduce crude production when it meets on the fifth of October. Brent crude futures for November rose 95 …

Oil prices were little changed in early trading on Friday, but they are heading for their first weekly gain in five weeks, supported by the decline in the US dollar and the possibility of the OPEC + group agreeing to cut crude production when it meets on the fifth of …