How will Brent react to OPEC-JMMC meetings?

How will Brent react to OPEC-JMMC meetings?

What will happen?

On Thursday, August 12, during the day members of the Organization of Petroleum Exporting Countries (OPEC) and Joint Ministerial Monitoring Committee (JMMC) will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce. The representatives from the 13 OPEC members and 11 other oil-rich nations will attend. The meetings are closed to the press, but officials usually talk with reporters throughout the day, and a formal statement covering policy shifts and meeting objectives is released after the meetings have concluded.

Members didn’t make the decision during the last OPEC-JMMC meeting on July 2. The announcement of oil production increase appeared later, on July 18, and led to a 6% Brent price drop.

XBRUSDH4.png

Price change after OPEC's decision

How to trade on OPEC-JMMC meetings?

  • Production increases put a negative effect on the oil price.
  • Production decline put a positive effect on the oil price.

Instruments to trade: XTI/USD, XBR/USD

TRADE NOW

Similar

Latest news

An index that will rock USD
An index that will rock USD

The United States will publish the ISM Non-Manufacturing PMI on Thursday, January 6, at 17:00 GMT+2 (MetaTrader time).

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

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

Beginner Forex book

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