XTI/USD
The Cartel will likely stick to the production plan that was announced at the previous meeting − a total increase in production by 648 thousand b/d. We are waiting for the results of Biden's visit to Saudi Arabia, which will resolve several geopolitical issues. So a calm OPEC+ meeting is expected, although unpleasant surprises, as at the last summit, are not ruled out. The technical levels are not changing yet, but the balance of volumes is gradually shifting towards purchases.
The Cartel will likely stick to the production plan that was announced at the previous meeting − a total increase in production by 648 thousand b/d. We are waiting for the results of Biden's visit to Saudi Arabia, which will resolve several geopolitical issues. So a calm OPEC+ meeting is expected, although unpleasant surprises, as at the last summit, are not ruled out. The technical levels are not changing yet, but the balance of volumes is gradually shifting towards purchases.