The latest news from the OPEC + meeting says that an agreement has been reached on a moderate increase in production over the next 3 months. Interestingly, oil rose after this news. Previously, increases of +350 bpd in May, +350 bpd in June and +400 bpd in July were taken into account, but the latest reports say that the size of the increase in production has not yet been determined. Saudi Arabia is not satisfied with this solution. It is uncertain whether the additional cuts from this country will be maintained. If not, then investors will have to take into account a one-off return of production at the level of 1 million bpd, which may not be so positively perceived by the market.
The volatility is really high. Crude oil rebounded initially, but we are now seeing a return to declines as the price hit $ 60 a barrel. Source: xStation5This 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.