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Business / Finance

Overview: the oil adds to the price, although OPEC+ had doubts

Forex Club 20.05.2019 at 14:42

The Price of oil (July futures on Brent) on Monday, may 20, to 17.31 MSK increased relative to the previous close of 0.6% to 72.64 per barrel.

the Market of "black gold" stabiliziruemost attempts of growth slightly below the may highs around 73 dollars per barrel. Oil prices slowed growth by day on Monday on the background of ambiguity in the decision of OPEC+.

the Past Sunday in Jeddah (Saudi Arabia) meeting of the Ministerial monitoring Committee of OPEC+ ended without specific recommendations on the fate of the deal on the reduction of oil production in the second half. Media reports that in June, the production can be increased.

In particular, OPEC can stop the fulfillment of the terms of the transaction, and it would mean the growth of production by about 800 thousand barrels a day. A more moderate scenario, production will grow by only 300 thousand barrels per day, and the magnitude of the reduction in production will decrease to 900 thousand barrels per day instead of 1.2 million.

However, the Ministers of oil of the major producing States intend to continue to cooperate and not to neglect the situation in the oil market.

This keeps the oil market from a drawdown in the last days. This dynamic did not prevent trader Forex Club earn per day more than 15 thousand dollars by trading in gold futures on the mark Brent.

meanwhile, the “Ukrtransnafta” has again suspended the transit of Russian oil to the EU through the pipeline “Druzhba” after the message of the Hungarian company MOL about the technical problems.

At the same time, Belarus is waiting for Ukraine and Poland confirm to resume the transit of Russian oil via oil-trunk pipeline “Druzhba”. The suspension of Russian oil transit to Europe occurred in April due to the high content of chlorides.

the Euro against the dollar stabiliziruemost around 1,115. Investors prefer to refrain from taking action in conditions of uncertainty in trade relations the United States with its main partners.

To 17.31 MSK the Euro increased from the start of trading on the last fixing by 0.01% and amounted to 1,1167 dollar.

Market, USA, dollar, oil, ruble, Forex club

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pop up blocker author: denis.povtorenko