On March 20 large oil producers will meet in Moscow
According to Bloomberg meeting of oil producing countries will be held on March 20 in Moscow. The Ministry of Oil of Nigeria said that the participants of this meeting will be both members of OPEC and other major oil producers. According to our forecast, as a result of speculation regarding this meeting, the price of oil may show growth, but its potential is limited since Iran will continue to increase the volume of supply and the increase in oil prices will lead to an increase in shipments from the United States. Our medium-term outlook for oil remains negative, but we are waiting for the strong price movements.
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