Oil at 108 dollars a barrel, doubts about the increase in OPEC production

Oil prices viaggiano in slight declineon a day ofsee-sawing exchangesdue to the closure for holidays, while theinvestorsthey look at the state oftalks between the United States and Iran. I Brent crude futuresthey now lose 0.68% a$108.08 per barrel mentre i WTI contracts cedono l’1,60% a $109.77.

Such movements, however, signal theanalyststhey are notsignificantbecause they are precisely limited toAsian trading di oggi. Last Thursdaybut it happenedbiggest price increasein absolute terms2020 con il WTIwho recorded a11% surge e il Brent dell’8%.

The OPEC+ decision

Yesterday theOpec+agreed amodest increase di 206,000 barrels per dayfor May. However, that decision will remain largely on paper, as severalkey manufacturersof the group I am not able toincrease production a causa della guerra. L’Saudi Arabiala Russiaand six other members ofOpec+in fact, they decided to increase the numbers againoil production quotaswarning that the restoration ofenergy plants damaged by war in the Middle Eastit is “expensive” and will take “a long time.”