Oil started to grow on OPEC statements

Oil prices moved to growth after the statement of the Organization of the Petroleum Exporting Countries on its readiness to support the stability of the oil market. In its monthly report, OPEC noted that inventory levels in OECD countries declined to 2 billion 829 million barrels at the end of March, which demonstrates the effectiveness of the OPEC + deal to limit oil production. OPEC, which fulfilled the agreement in April by 166%, raised the forecast of global demand growth for 2018 by 25 thousand barrels per day. On Monday at 14:12 Moscow time, July futures for Brent crude rose 25 cents to 77 dollars 37 cents per barrel. The price of June WTI futures rose 10 cents to 70 dollars 80 cents per barrel.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong