Oil now

At the trading on Tuesday, oil quotes of major brands demonstrate restrained dynamics, limited to recent lows. It should be noted that the negative sentiment on the oil market persists mainly due to the data that oil production in Saudi Arabia reached a record high of 11.3 million barrels per day. It is also worth noting that shale oil production in the United States also remains at a high level, as indicated by the growing amounts of oil reserves in the United States.

The limiting factor for reducing oil is the expectation of the G20 meeting, which starts on Friday. It is possible a discussion on limiting oil production within this meeting.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading around $ 60.60, an increase of about + 0.05% in price.

WTI oil trades at $ 51.60, a decline of about -0.10% in price.

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Dani Leviant

Earn with the help of the trade service on the news Erste News!

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