Oil Experiences an 11% Weekly Loss
The ECB is expected to raise the interest rate to 1.5% and oil is falling
How will OPEC-JMMC Meetings Affect Oil Prices?
What will happen?
OPEC-JMMC meetings will be hosted on Thursday, December 2 during the whole day.
OPEC-JMMC meetings are attended by representatives from the 13 OPEC members and 11 other oil-rich nations. They will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The last time the global supply was not changed, XBR/USD lost $3.5.
How to trade on OPEC-JMMC meetings?
- If the supply increases, the oil will likely weaken.
- If the supply decreases, the oil will likely strengthen.
Instruments to trade: XBR/USD, XTI/USD.
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