brent(Triangle)

8 Apr 2020

the issue of the date of the emergency meeting of OPEC+ is known: it will be held on April 9. Russia and Saudi Arabia officially confirmed their participation. Most experts expect a possible reduction in production by 10 million barrels per day but representatives of the Russian Federation are set for a more significant decrease, up to 15 million barrels. However, a decrease in production can affect the market only in the long term, and now oil reserves in storage facilities are reaching critical values ​​and are increasing every week. According to yesterday's API data, they reached 11.938 million, which is significantly higher than the expected 9.300 million.