FXTM information and reviews
FXTM
93%
IronFX information and reviews
IronFX
92%
Libertex information and reviews
Libertex
91%
FXCC information and reviews
FXCC
90%
Markets.com information and reviews
Markets.com
89%
FxPro information and reviews
FxPro
88%

What happens if the new OPEC+ deal fails?


7 April 2020

The risks of a possible disruption of the OPEC+ meeting, scheduled for April 9, remain high. Last weekend, Russia and Saudi Arabia exchanged "taunts" at each other about the collapse of the oil market, and the United States, which actively joined in the discussion of the current situation, did not put forward any concrete proposals. 

At the end of last week, oil prices showed significant growth during two consecutive trading sessions on reports that the alliance will discuss the possibility of reducing oil production by 10 million barrels per day in total. On Monday, April 6, prices started to decline after information on the postponement of the OPEC+ meeting from April 6 to April 9. 

The OPEC + meeting on Monday lost its meaning, as the United States so far does not want to participate in the deal. Last weekend, Russia and Saudi Arabia exchanged accusations against each other over the collapse of the oil market. However, the problem is not in the positions of traditional manufacturers, but in the intentions of the United States, the expert believes. At the end of last week, Trump spoke about the readiness of Russia and Saudi Arabia to reduce production by 10 million barrels, but Washington, for its part, has not put forward any proposals.

It is still very early to take the decline in production for granted, the probability of failure of the negotiations is still quite high. If the United States is not ready to participate in the deal, the market will follow the path of a longer period of low prices that shale companies will ruin. By the way, this process has already begun.

#source

Related

Oil Is About to Update Its Highs
Oil Is About to Update Its Highs

The key support factor is market expectations of a stable demand for energies in the future. In particular, it’s the report from the International Energy Agency, which...

28 Sep 2021

Forex and Cryptocurrency Forecast for September 27-October 01, 2021
Forex and Cryptocurrency Forecast for September 27-October 01, 2021

The Fed did not make any changes to its monetary policy at its meeting on September 21-22. However, the regulator made it clear in its commentary that...

27 Sep 2021

Stock Futures Soft Ahead Of Powell’s Speech
Stock Futures Soft Ahead Of Powell’s Speech

Futures in the United States and Europe are trading mildly lower today. Stock traders welcoming the view that a near-term withdrawal of quantitative easing reflects...

24 Sep 2021

Stock Futures Up Ahead Of Fed Meeting
Stock Futures Up Ahead Of Fed Meeting

Futures in the United States and Europe are trading higher today, as investors focus on China’s Evergrande whirlwind, which has even overshadowed the Federal...

22 Sep 2021

Gold's sudden glow in a falling market
Gold's sudden glow in a falling market

Gold's ability to resist the general downtrend speaks to investor confidence that global central bank policies will remain soft enough to avoid triggering a global downward asset sell-off spiral...

21 Sep 2021

Forex and Cryptocurrency Forecast for September 20-24, 2021
Forex and Cryptocurrency Forecast for September 20-24, 2021

The dollar continues to strengthen, and the EUR/USD pair moves south. Starting on Monday September 13 at 1.1810, it ends the five-day run at 1.1730. The movement...

20 Sep 2021


Editors' Picks

OctaFX information and reviews
OctaFX
86%
HotForex information and reviews
HotForex
85%
XM information and reviews
XM
80%
FXCM information and reviews
FXCM
79%
Vantage FX information and reviews
Vantage FX
78%
Moneta Markets information and reviews
Moneta Markets
77%

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.