In case you missed the weekend news: OPEC+ to accelerate oil output hikes, warns of ending voluntary cuts if compliance lags
Amid worries of tariffs weighing on global growth and the US-China trade war still not seeing much progress, the decision by OPEC+ is not doing oil prices any favours at the moment. The bloc is fixated now in its battle to try and secure market share and push out US shale it would seem. The question is, where will the line be drawn?
The April low stands at $55.15 but we could be eyeing a steeper decline if all the factors above continue to stay the course over the next few weeks. Not quite the time to go bottom picking just yet.
This article was written by Justin Low at www.forexlive.com.Hence then, the article about oil struggle continues as opec moves to further boost production was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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