Opec+ To Keep The Same Oil Production Quotes And Price

Discussion in 'General Trading Discussion' started by World-Signals.com, Dec 5, 2019.

  1. World-Signals.com

    World-Signals.com Well-Known Member

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    It is the time of OPEC and OPEC+ meeting in Vienna. The worldwide expectations are focus over the new productions cut between 400 000 and 500 000 barrels per day.
    Russia has the last word finally and it will happen tomorrow (Friday Dec 6th). Russia is on the way to say that the current Oil price is a good price and further productions cut may cause damages ahead the winter season.
    The other factor cause oil price is continuing of trade negotiations between USA and China. World-Signals.com expects new failure of these negotiations that will cause low oil prices during the end of this month.
     
  2. gowiththeflow

    gowiththeflow Senior Investor

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    What is the outlook for oil in the short, medium and longer term?
     
  3. World-Signals.com

    World-Signals.com Well-Known Member

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    We can expect down movement to levels of $52-$53 (WTI) at the end of the year
     

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