Experts expect that Opep defies Trump with a hint of oil

Of the 36 analysts and traders that Bloomberg has controlled, they expect oil production from OPEC countries and Russia (called Opec +) to be reduced at their meeting in Vienna, at the end of next week.

The price of a barrel of oil from the North Sea is about 61 dollars Wednesday morning, having been about 85 dollars in early October.

Oil prices have fallen by 30% in the last two months, which is explained by the increase in slate oil production in the United States, more oil than the United States. forecast by Russia and Saudi Arabia and by the decline in demand. In total, this market is worried about overproduction next year.

If the 15 member countries of OPEC and Russia opt for a reduction in production to drive up oil prices, US President Donald Trump will consider his wishes. He asked Saudi Arabia to work for oil prices to fall, but experts do not think the country will follow suit. Then, they are more doubtful that Russia is participating in further production cuts. 12 of 31 who believe in cuts do not believe that Russia will contribute, writes Bloomberg.