Oil Prices Rise Before OPEC Meeting

Oil Prices Rise Before OPEC Meeting

Oil prices are rising at the 8th Extraordinary Meeting of the Organization of Petroleum Exporting Countries (OPEC) and countries other than OPEC, which will increase the oil cut. Brent oil barrels are trading in international markets at $ 52.90. Brent oil, which rose to $ 54.23 yesterday, ended the day at $ 52.25 a barrel. Brent oil has traded at $ 52.90, with an increase of 1.24 percent compared to the closing date since 09.07. In the same minutes, the West Texas type (WTI) crude oil found its buyer at $ 47.89 a barrel. Oil prices have increased due to the expectation that the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries will increase oil cuts in Vienna tomorrow. It is estimated that Saudi Arabia and Russia, the leader of OPEC and non-OPEC countries, will approve new cuts of 1 million barrels per day. Brent oil is technically said to be in the range of $ 52.71 to $ 52.89 as a resistance zone and $ 52.53 to $ 52.35 as a support zone.