Moscow, February 3 – “News.Economy,” the oil Market today showed some pretty strong volatility, as a result, the quotes of Brent to the lowest level since December 2018.
First, traders cheered reports that OPEC may hold an emergency meeting, then the news that Russia and Saudi Arabia obsat possible further reduction in the output by another 500 thousand barrels.
But then the news came another message – that Russia does not really support the idea of further reduction.
Publication came from The Wall Street Journal, and not the fact that the so-called sources told the correct information.
anyway, an emergency meeting of OPEC technical Committee+ to be held February 4-5, and the final decision – at Ministerial level – can be deferred to the February 14-15. However, you can expect that tomorrow, the Agency will begin to publish leaks, and the market will respond to incoming news.
oil Prices are changing very quickly, literally within hours futures could rise by 2-3%, and then to fall. So while the findings on the further motion to be premature. You need to await the outcome of the OPEC meeting+.