The numbers of the production cut agreed by the OPEC+ are unprecedented but falls short of expectations, in the opinion of strategists at OCBC Bank. Key quotes “OPEC+ has decided on an output cut of 9.7mbpd in May and June, 7.7mbpd in 2H 2020 and 5.8mbpd in Jan-Apr 2021.” “Overall, the market appears to have already priced in the cuts and might be somewhat disappointed with the depth of cuts.” “There appears to be a stabilisation in crude prices in the past week in the range of $30-$35/bbl, and we think prices are likely to stay in the sub-$30 level for now.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK total deaths in week ending 3 April was 6,082 above average, implying higher coronavirus mortalities FX Street 2 years The numbers of the production cut agreed by the OPEC+ are unprecedented but falls short of expectations, in the opinion of strategists at OCBC Bank. Key quotes “OPEC+ has decided on an output cut of 9.7mbpd in May and June, 7.7mbpd in 2H 2020 and 5.8mbpd in Jan-Apr 2021.” “Overall, the market appears to have already priced in the cuts and might be somewhat disappointed with the depth of cuts.” “There appears to be a stabilisation in crude prices in the past week in the range of $30-$35/bbl, and we think prices are likely to stay in the sub-$30 level… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
