Oil price is increasing in anticipation of the OPEC+ meeting. The organization is expected to cut the supply by 2 million barrels a day, this is double the amount the original. In addition to that, the dire situation between Russia-Ukraine will make the market more volatile.
Moreover, Chinese demand is rebounding as refineries rush to use quotas.
According to Bloomberg, the anticipated increase in China’s oil consumption as refiners lift operating rates may help to support global prices.
Moreover, Chinese demand is rebounding as refineries rush to use quotas.
According to Bloomberg, the anticipated increase in China’s oil consumption as refiners lift operating rates may help to support global prices.
Trade active
Comment:
Stop loss moved to 91.90
Trade closed: target reached