HomeBusinessEnergy Sector, Oil, & Gas Stock NewsOPEC+ Could Cut Oil Production Soon

OPEC+ Could Cut Oil Production Soon

"Oil prices are poised to be supported as energy investments remain depressed. U.S. stockpiles are likely to continue to decline over strong export demand. XOM and CVX may continue to post record profits as they keep spending in check," says Ed Moya. "High volatility in oil continues amid recession fears. There is no indication that price increases in natural gas will end soon. Unprecedented drought in Europe threatens to stop energy supplies down the Rhine," Rohan Reddy adds.

Trading 360

24 Aug 2022

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