The OPEC summit is still ahead (Thursday) but prices of both OIL and OIL.WTI are up nearly 5% today following an announced production cut by the Canadian province - Alberta. It represents more than 300kbd or some 0.3% of global output and is seen as a part of the OPEC+ move to stabilize prices. Investors expect more cuts from the OPEC and Russia. Traders can take short position in OIL if they expect Brent prices to fall further or long positions if they see prices rebounding.
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