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09.03.2020 Brent Oil Analysis
09.
Yazar: Zack Smith
Yayınlanma: 10 Mart 2020 01:04
Güncellenme: 18 Kasım 2024 13:57
09.03.2020 Brent Oil Analysis
Brent oil went down to as low as 35.34 USD a barrel today from 47.89 USD on Friday and it is also likely to go down as low as 20usd, This was caused by the OPEC meeting that did not go well last week.Russia rejected the additional cuts of oil production in which it was expected to cooperate with OPEC. It was expected that they will be a 1.5million barrel cut per day but Russia and even Saudi Arabia failed to cooperate. Saudi Arabia even announced discounts on its official selling prices and they are even preparing to increase its oil production to 10 million by up to 12.5 million BPD from the 9.7 million BPD. This is not supporting the oil prices in any way and that is why the oil prices have been going down. Failure to cooperate with OPEC now this means that countries are starting to work without minding the reductions or quotas that were there before.İLGİLİ HABERLER
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