Crude prices stand still ahead of OPEC meeting

Crude prices stand still ahead of OPEC meeting

On Friday, crude prices didn’t change in early Asian trade because the market was eager to see whether key crude producers would dare to extend supply cuts beyond March at a gathering in Vienna later in the day or not.

Brent crude futures demonstrated an outcome of $56.40 a barrel, sliding 0.05% from their previous close.

Meanwhile, West Texas Intermediate crude futures gained 0.14% sticking to $50.62 per barrel.

The Organization of the Petroleum Exporting Countries along with other oil producers are braced for meeting in Vienna on Friday for the purpose of discussing a probable extension of a crude supply cut deal to back crude prices.

Market participants are also eager to learn whether Libya and Nigeria, who have been exempt from those curbs, will join any output cuts in the future.

With American stockpiles still elevated, a sturdy signal about lower supply is probably required for price momentum to stay positive.


Latest news

Evergreen buck heads north

On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…

Gold ascends on Brexit jitters

On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera