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.
đź’ŻDaily Summary - Wall Street Close to Records Ahead of Long Weekend
đź”´A New Era at the Fed: Kevin Warsh Takes the Helm. US30 above 50k
Is Waller echoing Warsh's stance? Keeping rates steady but pressing ahead with balance sheet reduction?
US OPEN: Wall Street Nears Record Highs Ahead of Long Weekend, Powered by AI