Saudi’s to Push OPEC Members for Production Cuts Ahead of Aramco IPO

Free $100 Forex No-Deposit Bonus

By Giles Coghlan, Chief Currency Analyst at HYCM

WSJ piece

  • Saudi’s want cartel’s ‘laggards’ to comply with current curbs, rather than pushing for deeper trims in output.
  • Effort is aimed at ‘bolstering oil prices’ and reminding potential Aramco investors of Saudi Arabia’s considerable sway with OPEC, according to people familiar with the plan.

Oil unmoved on the headline. There needs to be some further details to these proposed cuts to really get another bid under oil.

Learn more about HYCM

Copyright © 2019. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.