OctaFX | OctaFX Forex Broker
Open trading account

OPEC+ yet to start formal talks in Vienna – Reuters

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+, has yet to start formal discussions in Vienna, Reuters reported. Non-OPEC states are reportedly meeting separately in OPEC headquarters. The delay is now more than three hours.

Earlier in the day, several news outlets reported that Russia won't agree to additional output cuts. On the other hand, an OPEC source told Reuters that the group has no intention to cut the oil production further without Russia's backing.

Crude oil reaction

Following a sharp drop earlier in the session, the barrel of West Texas Intermediate is staying relatively quiet near the $44 handle, erasing more than 4% on a daily basis.

USD/INR prints multi-month tops near 74.50

The Indian rupee is in free-fall at the end of the week and it has lifted USD/INR to the highest level since October 2018 near the 74.50 area. USD/INR
Read more Previous

EUR/GBP moves back above 0.8700 mark, fresh session tops

The EUR/GBP cross jumped to fresh session tops in the last hour, with bulls now looking to extend the momentum further beyond the 0.8700 round-figure
Read more Next
Start livechat