WTI dropped below zero: what does it mean?
Big news shake financial markets more and more often. This time oil is once again the news maker.
Will the oil prices rise?
The organization of the petroleum exporting countries (OPEC) and non-OPEC oil producers (Russia) will meet on July 1-2. The press conference of OPEC members is scheduled at 18:00 MT time on Monday, while the final joint press conference of all producers is expected on Tuesday at 14:00 MT time. The countries will decide on the extension of the ongoing production cuts. As the cuts failed to curb the oversupply in the first half of the year, it would be interesting to look at the next steps by OPEC+, especially by Russia and Saudi Arabia. Will the countries succeed in making the oil prices higher?
• If OPEC+ extends the production cuts, the oil prices will go up;
• If OPEC+ fails to extend the production cuts, the oil prices will go down.
Note, that you need to choose BRN-19Q to trade Brent and WTI-19Q to trade WTI in the MT4 platform
Similar
OIL: WTI is below $15
The price of WTI oil collapsed even more, it trades at $14.80; why?
OPEC: too little, too late
OPEC+ talked for more than eight hours on Thursday. Oil price plunged at the end. Why?
Latest news
Final debate and stimulus talks are in focus
Three main drivers of the market: the stimulus package, the US presidential election and the coronavirus. Let's look how market reacts.
GOOGLE: in the crosshairs
The US Department of Justice thinks 87% a market share is too much for Google alone. The market thinks it's ok.
All attention to Euro
EU Flash Manufacturing & Services PMI will come out on Friday at 11:00 MT time!
Deposit with your local payment systems
