The OPEC + meeting has started. The first reports say that production is cut by 2 million barrels per day.
However, on closer inspection, the cuts are referring to r the full production target. Currently, OPEC + produces 3.5 million barrels per day less than the production limit. If this were true, the real cut could be as low as less than 1 million barrels a day from countries such as Russia, Saudi Arabia and the UAE.
Crude oil is rising immediately, however the details are not supportive for market bulls. Source: xStation5
📊Morning Briefing: BoJ raises rates, but the yen paradoxically weakens (18.09.2026)
US Open: Nasdaq, gold and silver surge following... an interest rate hike (17.09.2026)
Chart of the day 🔼 Gold rebounds 1.3% despite hawkish Fed stance (17.09.2026)
📊Daily Summary - Hawkish Fed raises rates and signals more. Dollar gains while gold falls