OPEC reduces the optimism of the decline in oil prices since 5 months

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If Saudi Arabia decided to cut oil, it would really give up market share in the United States, an badyst said. Photo: Bloomberg "title =" If Saudi Arabia decided to cut oil, it would really give up market share in the United States, an badyst said. Photo: Bloomberg "clbad =" img-responsive "/> <p> If Saudi Arabia decided to reduce oil, it would really give up a share of the market in the United States, estimates an badyst Photo: Bloomberg </p> </div> <p> Crude oil price expected to rise the most in five months as world's largest oil exporters prepare to discuss global supplies Futures rose 3.6% in New York on Monday recovering nearly half of Friday's loss.The meeting of this week's G20 in Argentina, which will involve the Saudi Crown Prince Mohammed Bin Salman and Russian President Vladimir Putin, will be followed by a key meeting of the 39, OPEC next week in Vienna </p> <p> "The comments of various members of Opec were sufficient John Kilduff, partner of the British hedge fund New York, said John Kilduff. </p> <p> The gross of reference am African fell by about 20% this month in the mid-60s. Largest exports discounted by the Iranian government and record production of American shale. Meanwhile, Saudi Arabia pumps more oil than ever since its first barrel was extracted 80 years ago under pressure from US President Donald Trump. </p> <p> Russia reported that "she was not enthusiastic about making a cut. If Saudi chooses to reduce its expenses, it will really give up a market share in the United States, "said Tariq Zahir, commodity fund manager at Tyche Capital Advisors LLC. "This week, Saudi Arabia and Russia will be part of the G20, which will be unstable." </p> <p> The Goldman Sachs Group expects returns of about 17% in the coming months, describing the current situation as unsustainable and touting the success of the G20. </p> <p> January's West Texas Intermediate (WTI) rose from $ 1.29 to $ 51.71 a barrel at 12:31 pm on the New York Mercantile Exchange. The contract tumbled nearly 11% last week. </p> <p> Technical indicators tracked by traders observing the charts show that the US benchmark crude lies deep in weathered territory, indicating that a rebound was in store. </p> <p> Brent for January settlement added $ 1.72 to $ 60.52 The London Stock Exchange ICE Futures Europe, after falling below the $ 60 mark Friday for the first time since October 2017. L & # 39; The global benchmark has traded at a premium of $ 8.85 compared to WTI. </p> <p> Trump, who opposed the Organization of Petroleum Exporting Countries (OPEC) recurring theme, continued to comment on Twitter the benefits of cheaper crude. He thanked Saudi Arabia last week for the drop in oil prices. </p> <p> According to Citigroup Inc., the G20 meeting will have an impact on the deliberations of Opec. </p> <p> "It is undetermined to determine the evolution of oil prices," said Citigroup as a whole. Chief Strategy Officer for Commodities Ed Morse said in a video presentation on November 23. </p> <div clbad= First published: Tuesday, November 27, 2018. 12:00 IST
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