Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

OPEC+ ministerial meeting outcomes


March, 05 2021
watermark Economic news

On Friday, Brent crude rose to $68.60 for the first time since January 2020. The prices were supported by the results of the meeting of the ministers of the OPEC+ countries, according to which the organization unexpectedly refused to increase oil production in April by 500 thousand barrels per day. Moreover, Saudi Arabia extended its own voluntary restrictions of 1 million bpd for another month, promising to return these volumes to the market when it sees fit.


Russia and Kazakhstan again received the right to increase production from April by 130 thousand and 20 thousand barrels per day, respectively.


The results of the OPEC+ meeting indicate that the participants in the energy pact have chosen a cautious approach to assessing the recovery in demand, given the still remaining concerns about the pace of global economic growth.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.