OPEC + is not afraid of Trump's weight. Price results decrease higher than the oil expectation – Finance News Without Chew Daily

After two days of intense communication in Vienna, the Petroleum Change Agency (OPEC) Association and Observers included its last Commercial & disappointment and reached a discount reduction agreement more than expected.

(New York, Vienna, 8th) After two days of intense communication in Vienna, the Petroleum Reformation Agency (OPEC) and observers among Malaysia then disrupted its coverage- haul and reached a product reduction agreement more than expected. South Westerly

OPEC agreements and its relatives reduce market supply with 1.2 million barrels per day, and OPEC has 800,000 barrels. Iran was winning the speeches, saying that it was free from production cuts due to US sanctions.

Oil prices increased by 5.4%

After the release was released, the price of international oil increased by 5.4%, which meant that the agreement would be more likely to impose the US President Trump, OPEC opposed not to & # 39; cutting work to protect oil prices.

Yesterday's closure, Brent's income exceeds $ 1.61 or 2.7% to close $ 61.67 barrel. At the beginning of the session, the contract had dropped less than $ 60 barrel, and it seemed that countries that made oil would maintain the production targets. As a result, following the news about the agreement on production cuts, Brent's petty income hit an interactive level of $ 63.73 and returned back later in the session.

Barley oil oil income rises $ 1.12 or 2.2% to $ 52.61 barrel, which is a huge deal of $ 54.22.

New York oil crude oil growth increased by 3% for the week, while Brent oil prices rose 4.8%. Since October, due to the rise in oil supply, global demand growth is weak and crude oil prices have fallen by 30%.

Before the OPEC Administration made this progress, as a real intermediary between Saudi Arabia and Iran, non-OPEC members on Russia had called a series of bilingual meetings. The overarching power on a global oil landscape has placed an additional emphasis on OPEC, which means it is responsible for Russia's support and great challenge from Thump.

The final agreement to reduce the results was unexpectedly, as the agents said that there was a daily reduction of about 1 million barrels, and OPEC was responsible for 650,000 barrels.

Revised in April next year

The countries making oil represent in October will be the basis for product cuts and the re-evaluation of the agreement in April next year.

Russia's product cuts are still unknown. One earliest producer reported that there was a decrease in the country's first outbreak of between 100,000 and 150,000 barrels per day, but later allowed to agree to be slightly higher than this.

Art source:

Without Chew Daily / Finance ‧2018.12.08

Source link