Oil rose today more than 2%, reaching its highest level in nearly 14 months after OPEC agreed not to increase supply in April as they are prepared to wait for a more substantial recovery in oil demand. Previously the prices rose by 4% on Thursday after OPEC+ extended oil output curbs into April. Investors were surprised that Saudi Arabia decided to maintain its cut of 1 million bpd through April even after oil rose sharply in the past two months amid the massive COVID-19 vaccination programmes around the globe. The investors are expecting faster recovery in Europe and USA at the rate of the vaccination programmes deployed there – which is adding to the expectations of in increased demand amid limited oil output – which is driving oil prices up now.
Торгуйте с настоящим брокером. Одни из самых низких спредов на рынках Форекс, драгоценных металлов, энергоносителей. Рыночное исполнение ордеров по лучшим ценам от поставщиков ликвидности первого уровня.
BRENT overview 05.03.2021
Oil jumps on OPEC decision.
Oil rose today more than 2%, reaching its highest level in nearly 14 months after OPEC agreed not to increase supply in April as they are prepared to wait for a more substantial recovery in oil demand. Previously the prices rose by 4% on Thursday after OPEC+ extended oil output curbs into April. Investors were surprised that Saudi Arabia decided to maintain its cut of 1 million bpd through April even after oil rose sharply in the past two months amid the massive COVID-19 vaccination programmes around the globe. The investors are expecting faster recovery in Europe and USA at the rate of the vaccination programmes deployed there – which is adding to the expectations of in increased demand amid limited oil output – which is driving oil prices up now.
Expect buyers on downward corrections.
Next resistance to watch – 66.42
Торгуйте с настоящим брокером. Одни из самых низких спредов на рынках Форекс, драгоценных металлов, энергоносителей. Рыночное исполнение ордеров по лучшим ценам от поставщиков ликвидности первого уровня.
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