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How will OPEC-JMMC Meetings Affect Oil Prices?

How will OPEC-JMMC Meetings Affect Oil Prices?

Updated

What will happen?

OPEC-JMMC meetings will be hosted on Thursday, December 2 during the whole day.

OPEC-JMMC meetings are attended by representatives from the 13 OPEC members and 11 other oil-rich nations. They will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.

The last time the global supply was not changed, XBR/USD lost $3.5.

XBRUSD.png

How to trade on OPEC-JMMC meetings?

  • If the supply increases, the oil will likely weaken.
  • If the supply decreases, the oil will likely strengthen.

Instruments to trade: XBR/USD, XTI/USD.

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