FOREX

[SuperForex]

OPEC Meeting in Vienna

The cartel is meeting to discuss possible production cuts.
The world was facing an unprecedented oil glut in 2014. This was caused by technological advancement, which had led to countries within OPEC and outside of it, such as the United States, being capable of much higher volumes of production. The US’s method of shale oil extraction, in particular, allowed America to produce high amounts of oil at low costs.
More information see here
https://superforex.com/economy-articles/opec-meeting-in-vienna-071218/?x=FORUMS