Latest Most popular

Can we expect further cuts from OPEC+ ?

OPEC and Russia-OPEC + are discussing extending the current mining cuts by one to two months. Informal OPEC leader Saudi Arabia does not expect the agreed measure to be released in July but extends it until the end of the year. However, according to these sources, Riyadh has so far failed to win over Russia. Moscow, which would like to release the measures gradually, is reluctant to extend them until the end of the year.

OPEC and its allies, including Russia’s association in the OPEC + group in April on a record reduction in oil production. In May and June, the leading producer countries will produce 9.7 million barrels less per day – about ten per cent of global production – to increase prices, which have fallen sharply due to declining demand caused by measures to curb the spread of coronavirus.

Oil prices are now around $ 35 a barrel and are about half the year-on-year. OPEC + member states are expected to discuss mining policy at an online meeting on 4 June.

Disclaimer: The content of the Reports constitutes Marketing Communication and does not constitute Investment Advice or Investment Research or an offer for any transactions in financial instrument. The content of the Reports represents the view of our experts on a generic basis, and does not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the Reports have not been prepared in accordance with legal requirements designed to promote the independence of Investment Research, and are not subject to any prohibition on dealing ahead of the dissemination of Investment Research. Readers using the Reports should consider the possibility of encountering substantial losses. The past performance is not a guarantee of future results. Therefore, Goldenburg Group Limited shall not accept any responsibility for any losses of traders due to the use and the content of its Reports.