• Welcome to forex.pm forex forum binary options trade. Please login or sign up.
 

Oil price fall - ANZ does not expect OPEC will intervene with output cuts at June meeting

Started by forex4you, Jun 01, 2023, 08:58 am

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

forex4you

Oil price fall - ANZ does not expect OPEC will intervene with output cuts at June meeting

Earlier on oil:

ANZ say that oil market's sentiment was hit by the PMI from China yesterday indicating the country's weak economic rebound. Concerns that the post-COVID bounce has petered out. Also overnight data showing US employment vacancies unexpectedly increased. Strong employment statistics typically signals an increase in oil demand from consumers.

Analysts at ANZ go on to say that there is speculation that OPEC will intervene to support prices as a result of the crude selloff. But ANZ are not anticipating the June 4 OPEC meeting will bring output cuts, but bullish rhetoric is likely to persist. OPEC will be watching to see how the existing production agreement and the expansion of Chinese demand will develop.



                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: Oil price fall - ANZ does not expect OPEC will intervene with output cuts at June meeting

forexlive.com
Forex4you offers wide range of trading accounts with DDE, NDDE and STP executions including more than 100 instruments. Forex4you is based on MetaTrader 4 trading platform. Clients have the advantage of daily technical and fundamental analysis, one-click trading, economic calendar, mobile trading applications, news and forecasts from Dow Jones (UK) and signals from Trading Central (US). In addition, Forex4you offers Forex dictionary, educational materials and lot of "How to" guides about Forex.

forex4you.com   share4you.com   betiforex.com Forex  beginners-guide-to-iq-option-complete-review forex4you review forex4you Forex4you Review - One of the Best Forex Brokers Forex4you Review - One of the Best Forex Brokers forex4you - PAMM forex broker review and feedback from traders forexbinaryoption.ae aroundworld24.com  Affiliate programs  Forex4you Affiliate programs   



forex4you.com