CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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STARTRADER Weekly Update | OPEC+ Agreement Commenced a Voluntary Cut in Oil Production

2 May

On May 1, numerous countries involved in the OPEC+ agreement commenced a voluntary cut in oil production. The reduction in production will persist until the end of 2023, resulting in a total decrease of 1.66 million barrels per day. Consequently, the prices of crude oil futures contracts have fallen to levels of $76.60 per barrel. It is possible that markets will remain subdued this week, with traders awaiting the outcome of the US Federal Reserve meeting on May 3rd. The Fed is highly anticipated to raise interest rates by 25 basis points.

This material provides real-time market analysis from contributing analysts. Please note that any views expressed in this material do not constitute operational advice. It is important to assess your risk tolerance and make independent trading decisions. STARTRADER holds no responsibility for any trading consequences that may arise from relying on the views expressed in this material.

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