The decision by OPEC and OPEC + on Monday to keep the plan for a gradual increase in oil production was prompted by fears that demand and prices could weaken.
The group also considered the possibility of increasing production by 800,000 barrels per day, which is almost 1% of global production, ahead of Monday's meeting.
Now the OPEC countries are more cautious, because any hasty decision could lead to a sharp drop in oil prices.
In the medium term, the instrument will be on the rise.
Today is rich in news. Taking into account this fact, as well as the strong upward movement in oil, no one canceled short-term sales for the instrument.
Proposed deal for this tool:
Entry Point - 82.85
Stop Loss - 83.80
Take Profit - 82.08
The group also considered the possibility of increasing production by 800,000 barrels per day, which is almost 1% of global production, ahead of Monday's meeting.
Now the OPEC countries are more cautious, because any hasty decision could lead to a sharp drop in oil prices.
In the medium term, the instrument will be on the rise.
Today is rich in news. Taking into account this fact, as well as the strong upward movement in oil, no one canceled short-term sales for the instrument.
Proposed deal for this tool:
Entry Point - 82.85
Stop Loss - 83.80
Take Profit - 82.08
Trade active:
The trade has been updated to Break-even🙌
Trade closed: target reached
