Will OPEC support the oil price?

Will OPEC support the oil price?

What will happen?

OPEC-JMMC Meetings take place on June 1 during the day.

As OPEC previously agreed, the cartel member countries will meet every month to adjust their collective supply policy to make sure it is adequate to the reality of the global demand. Last time, they’ve confirmed an upbeat global outlook to proceed with the planned increase in the total supply although the decisions didn’t come without internal discord.

How to trade the OPEC meeting?

On the one hand, if OPEC shares a strong global demand outlook, it will infuse optimism in the oil traders, and that emotional impulse may push the oil price. On the other hand, optimistic vibes imply that the oil supply may be increased even more – these expectations may press on the price.  

  • If the recovery optimism is stronger than supply increase fears, the oil price may rise;
  • Otherwise, it may drop.

Instruments to trade: WTI oil, Brent oil

Check the economic calendar

WTI2.jpg

                                                                                      LOG IN

Similar

Crucial News For The Following Week
Crucial News For The Following Week

Consumer Price Index, Existing Home Sales, US Fed rate decision - all of these things we will discuss in our new review. Don't miss it out!

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

Latest news

Deposit with your local payment systems

Feel the Team Spirit

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