Oil is retreating and a trend within OPEC by ignoring the United States
2018-12-06 07:21 am | Resource: News | No Views : 39
Oil prices fell on Thursday as investors awaited the outcome of the OPEC meeting in Vienna to decide on production policy, with the possibility of reaching an agreement on reducing supplies.
After OPEC members meet today, they are scheduled to meet Friday with non-OPEC allies, including Russia.
OPEC + Ignores the United States But the talks have not taken place
The Organization of the Petroleum Exporting Countries (OPEC) and the Russian-led producer bloc plan to cut volumes and support prices despite protests by US President Donald Trump, according to information obtained by the Financial Times.
"I hope OPEC will keep oil flows as they are and not constrained," US President Donald Trump said in a tweet via Twitter. "The world does not want or does not need higher oil prices."
Negotiations are under way in the framework of the so-called OPEC Committee + the Joint Ministerial Committee which met today in Vienna ahead of the FAO summit, the news agency reported on Wednesday. Representatives of the Commission argued that an agreement had been reached, but failed to convince the markets where few details were provided.
The article reveals that Brian Hawk, the US special representative to Iran, held a brief meeting in the Austrian capital with Khaled al-Faleh, the Saudi minister of energy, industry and mineral resources, the OPEC's de facto leader.
Where the envoy coordinates sanctions and pressure against the government in Tehran. Initially led to fears of a shortage of crude oil supplies, but has pushed other members of the Group of 15 nations to put higher national quotas at Iran's expense and still respect the joint commitments in nominal terms.
- Brent crude for February delivery fell 0.8% to $ 61.04 a barrel at 8:05 am CET.
Time frame Used - four hours Oil is moving in a sideway direction in the near term. Oil is still facing resistance and selling pressure around levels of 52.66 - 54.54. In view of the technical indicators Both the RSI and Stochastic are indicating to weakness of the indicators. Therefore, we expect that the oil will test the level of 50.00 dollar, which by breaking it down will target the…
- Gold Technical analysis 14 December 2018 07:12 am2018-12-14
- OIL Technical analysis 13 December 2018 12:41 am2018-12-13
- Gold Technical analysis 13 December 2018 12:38 am2018-12-13
- OIL Technical analysis 12 December 2018 12:18 am2018-12-12
- Gold Technical analysis 12 December 2018 12:16 am2018-12-12
- OIL Technical analysis 11 December 2018 05:33 am2018-12-11
- Gold Technical analysis 11 December 2018 05:30 am2018-12-11
- OIL Technical analysis 10 December 2018 08:50 pm2018-12-09
- Gold Technical analysis 10 December 2018 08:48 pm2018-12-09
Best trading brokers
- The rise of gasoline contracts supports oil to reach its levels in two months 2017-07-28
- Oil prices maintain their highest level in 8 weeks 2017-07-28
- Brief Market News 2017-07-12
- Oil falls influenced by the International Energy Agency report 2017-08-14
- Rising Of Oils Prices and Falling Of Gold Prices 2017-07-03
- Dogecoin .. Electronic currency arose as a result of irony 03:54 pm 2018-01-26
- Currency and commodity analysis for 2018 05:14 pm 2018-01-01
- Bitcoin forces Santa Claus to distribute the worst gifts to its investors on Christmas 10:04 am 2017-12-25
- Forex 09:26 am 2017-12-25
- OmiseGo .. Time for electronic financial exchanges 02:07 pm 2017-11-15