Trading news

Oil rises amid OPEC's agreement failure

Oil managed to regain bullish momentum, following its previous drop, amid the recent concerns regarding the Organization of the Petroleum Exporting Countries (OPEC) meeting where a probable agreement on output cuts failed.

U.S. crude oil trades at $45.97

The crude oil in the U.S. traded at $45.97 a barrel, declining 0.22% or 8 cents. Brent futures, on a global benchmark, traded at $48.16 a barrel, falling 0.19% or 8 cents.

Furthermore, the producer cartel made up of 14 member states, including Russia, a non-OPEC member, aims to proceed with production cuts to reduce worldwide supply.

Moreover, the OPEC members, in September, came up with an agreement of minimizing production to approximately 32.5 - 33 million barrels on a daily basis.

Read More

Monday, 28 Nov, 2016 / 1:02

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : https://www.argusfx.com/en/research-education/market-analysis/news/oil-rises-amid-opec-s-agreement-failure

Trading news

 

Dollar firms, stocks slip amid US stimulus doubts

  Talks on US stimulus package continue but deal in doubt after [...]

Posted on Thursday, 22 Oct, 2020 / 9:34 under

Up to the US Elections Results

The US economy has recovered modestly in the third quarter thanks to [...]

Posted on Thursday, 22 Oct, 2020 / 9:18 under

OIL dropped 2.5% after excess supply – US OIL Market Outlook – 22/10/2020

WTI Crude dropped by more than 2.50%, hitting our short entry support targets, [...]

Posted on Thursday, 22 Oct, 2020 / 7:55 under