OctaFX | OctaFX Forex Broker
Open trading account
Back

OPEC+ considering further oil output cut of 500,000 bpd due to virus impact on demand – Reuters

The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, is considering to deepen the oil output cut agreement by an additional 500,000 barrels per day due to the coronavirus' impact on demand, Reuters reported on Monday, citing two sources familiar with talks.

"Most OPEC members agree on the need to cut oil output further," sources added and noted that OPEC+ is planning to meet on February 14-15.

Crude oil reaction

The barrel of West Texas Intermediate edged higher on these comments and was last seen trading at $51.75, adding 0.4% on a daily basis.

Indonesia to temporarily halt food and beverage imports from China

Indonesia has decided to temporarily halt food and beverage imports from China amid concerns over the virus spreading to the country, Indonesia's Trad
Read more Previous

EUR/JPY Price Analysis: Further rangebound likely below 200-day SMA

EUR/JPY is expected to stick to the multi-session consolidative theme around the 120.00 region and so far capped on a daily basis by the 100-day SMA n
Read more Next
Start livechat