Ahead of Thursday’s key meeting between the Organization of the Petroleum Exporting Countries (OPEC) and allies, mostly known as OPEC+, Reuters came out with the news suggesting an extension of output cut to May-June.
“Saudi Arabia is prepared to support extending oil cuts by OPEC and allies into May and June and is also ready to extend its own voluntary cuts to boost oil prices amid a new wave of coronavirus lockdowns,” said the news while relying on an anonymous source.
The report also highlights the oil producers’ concern while saying, “They don’t see demand as yet strong enough and want to prevent prices from falling”.
Market reaction
Following the news, WTI begins Tuesday’s trading on a front-foot, up around $62.00 by the press time, while extending the previous day’s recovery moves.
Also read: US seeking to break Iran nuclear deadlock
作者：Anil Panchal，文章來源FXStreet，版權歸原作者所有，如有侵權請聯繫本人刪除。
風險提示：本文所述僅代表作者個人觀點，不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證，對於基於該內容所採取的任何行為，不承擔任何責任，除非另有書面明確說明。
暫無評論，立馬搶沙發