OPEC+ met yesterday to discuss planned Oil output increases. To understand why the organisation has decided to continue gradually increasing production in April, it’s important to take a look at its history and role in energy markets.
With supplies threatened by geopolitical unrest and demand rebounding across Asian economies, the crude benchmark Brent Oil has reached its highest level since October 2014.
Oil is in turmoil as the COVID-19 Omicron variant spreads. With the outlook for petrol demand uncertain, OPEC+ is set to meet today to discuss output.
The price of Brent Oil neared an eight-week low on Monday following OPEC+ closing a deal to increase Oil production. This comes in the wake of OPEC’s previous decision to keep supplies low earlier in the course of the pandemic.
Videos & Articles help you expand your trading knowledge.
Our Economic calendar helps you explore global market events.
Understand the full costs of your trades now for better expense management later.
This information is written by Plus500 Ltd. The information is provided for general purposes only, and does not take into account any personal circumstances or objectives. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. No representation or warranty is given as to the accuracy or completeness of this information. It does not constitute financial, investment or other advice on which you can rely. Any references to past performance, historical returns, future projections, and statistical forecasts are no guarantee of future returns or future performance. Plus500 will not be held responsible for any use that may be made of this information and for any consequences that may result from such use. Hence, any person acting based on this information does so at their own discretion. The information has not been prepared in accordance with legal requirements designed to promote the independence of investment research.
Hi! You've reached our website for customers based outside of the United States.
Make the move to Plus500US in order to start your Futures trading journey!