- Analytics
- News and Tools
- Market News
- Oil: OPEC's production cuts liven up the market – ANZ
Oil: OPEC's production cuts liven up the market – ANZ
FXStreet reports that investors continue to shrug off rising geopolitical tension, as economic activity shows signs of improving, strategists at ANZ bank report.
“President Putin and President Trump discussed the OPEC+ deal, with the Kremlin saying it had brought great stability to the oil market.”
“A Bloomberg report suggests there is some support for OPEC+ extending the current production quotas another one to three months. The 23% cut in output was supposed to be in place for only May and June before slightly higher quotas kicked in for H2 2020. The group is also considering bringing forward its next planned meeting to the 4 June.”
“Investors were buoyed by further falls in US drilling. Another 15 rigs were stood down, bring the total operating rigs to 222. This is the lowest since the financial crisis in 2009.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
