OPEC, along with its Russia-led allies, is contemplating reducing oil production by up to 1 million barrels a day, according to delegates. This consideration arises amidst ongoing conflicts in the Middle East that have already strained the oil markets. Saudi Arabia supports the production cut, while some other members are against reducing quotas. If implemented, this decision is expected to drive oil prices higher and is set to be potentially announced in a virtual meeting of the cartel, which was initially scheduled for last week but postponed on tomorrow due to disagreements regarding production levels.
Source: xStation 5
Cocoa with limited reaction to weaker grinding data from Europe
UK GDP picks up in August as budget tax hike speculation goes into overdrive
Daily Summary – Wall Street Rally Driven by Powell’s Promises
Cocoa Prices Stabilize Ahead of Processing Data: Has the Negative News Been Priced In?
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
