Reuters has reported that OPEC+, a cartel of oil-producing countries, is strongly considering a production hike commitment at its meeting over the weekend.
OIL.WTI (H4)
Source: Xstation
Donald Trump’s policy and lower prices have forced the cartel’s hand to attempt to reclaim recently lost market share.
Source: Bloomberg Finance LP, XTB
OPEC has already surprised traders multiple times this year with its shift in strategy toward being more production-oriented rather than controlling supply by all means.
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