WTI pushes higher after losing more than 1% on Monday. Investors remain optimistic about a steady recovery in energy demand. OPEC+ is expected to ramp up production at next week’s meeting. Crude oil prices fell on Monday and the barrel of West Texas Intermediate (WTI) lost 1.27% to close at $47.67. The risk-on market environment, however, helped the WTI, which was last seen rising 1.1% at $48.17, gain traction on Tuesday. Focus shifts to OPEC+ meeting Investors remain optimistic about a steady recovery in global energy demand heading into the new year amid the coronavirus vaccine rollout and the US stimulus deal. On Monday, Russian Energy Minister Alexander Novak said that they expect to see 5-6 million barrels per day (bpd) additional oil demand in 2021. Meanwhile, OPEC and non-OPEC producers, the group known as OPEC+, will meet on January 4th to reassess the output strategy. Russia is advocating for a 500,000 bpd increase in production both in January and February, suggesting that oil’s gains could remain limited in the first couple of months of 2021. Later in the day, the American Petroleum Institue’s (API) Weekly Crude Oil Stock Report will be looked upon for fresh impetus. Technical levels to watch for 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 EUR/USD to confirm bullish potential at the 1.2277 year high FX Street 1 year WTI pushes higher after losing more than 1% on Monday. Investors remain optimistic about a steady recovery in energy demand. OPEC+ is expected to ramp up production at next week's meeting. Crude oil prices fell on Monday and the barrel of West Texas Intermediate (WTI) lost 1.27% to close at $47.67. The risk-on market environment, however, helped the WTI, which was last seen rising 1.1% at $48.17, gain traction on Tuesday. Focus shifts to OPEC+ meeting Investors remain optimistic about a steady recovery in global energy demand heading into the new year amid the coronavirus vaccine rollout and the US stimulus deal.… 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.
