Citing Organization of the Petroleum Exporting Countries (OPEC) sources familiar with discussions, Reuters on Tuesday reported that OPEC and its allies were considering whether to deepen crude oil production cuts at their next meeting in December due to worries about the dismal energy demand outlook in 2020. “The Saudis want to prevent oil prices from falling. But now they want to make sure that countries like Nigeria and Iraq reach 100% compliance first as they have promised,” one OPEC source told Reuters. “In December we will consider whether we need more cuts for next year. But it is early now, things will be clearer in November.” With the initial market reaction, the barrel of West Texas Intermediate spiked to a daily high of $54.80 and was last seen trading at $54.65, adding 2.3% on a daily basis. 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 U.K government says the FCA will make the final decision on crypto derivatives ban FX Street 3 years Citing Organization of the Petroleum Exporting Countries (OPEC) sources familiar with discussions, Reuters on Tuesday reported that OPEC and its allies were considering whether to deepen crude oil production cuts at their next meeting in December due to worries about the dismal energy demand outlook in 2020. "The Saudis want to prevent oil prices from falling. But now they want to make sure that countries like Nigeria and Iraq reach 100% compliance first as they have promised," one OPEC source told Reuters. "In December we will consider whether we need more cuts for next year. But it is early now,… 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.
