WTI CRUDE OIL
hello traders here is why am bullish on OIL markets!
he Organisation of Petroleum Exporting Countries is looking for a “fair” price for its crude, Saudi Arabia’s Foreign Minister, Prince Faisal bin Farhan said this week after a meeting with his counterpart from Russia, Sergey Lavrov.
“I would like to assure that we and Russia would like an oil price which is fair to consumers and to producers,” bin Farhan said, adding, “This is what OPEC+ looks to achieve and there is good coordination in this initiative and we continue in working to support what benefits the global economy.”
Lavrov, for his part, noted that the OPEC+ alliance was strong, and there was nothing that could, at this point, undermine the good working relationship between Russia and Saudi Arabia.
Lavrov also said the purpose of the OPEC+ agreement was to restore balance on global oil markets and reduce volatility, saying he hoped that the extended cartel would “find a way to coordinate our actions in such a way as balance the interests of both producers and consumers.”
he Organisation of Petroleum Exporting Countries is looking for a “fair” price for its crude, Saudi Arabia’s Foreign Minister, Prince Faisal bin Farhan said this week after a meeting with his counterpart from Russia, Sergey Lavrov.
“I would like to assure that we and Russia would like an oil price which is fair to consumers and to producers,” bin Farhan said, adding, “This is what OPEC+ looks to achieve and there is good coordination in this initiative and we continue in working to support what benefits the global economy.”
Lavrov, for his part, noted that the OPEC+ alliance was strong, and there was nothing that could, at this point, undermine the good working relationship between Russia and Saudi Arabia.
Lavrov also said the purpose of the OPEC+ agreement was to restore balance on global oil markets and reduce volatility, saying he hoped that the extended cartel would “find a way to coordinate our actions in such a way as balance the interests of both producers and consumers.”
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