Oil Prices: Brent And Crude Could Move Massively In The Coming Days

Oil Prices: Brent And Crude Could Move Massively In The Coming Days

Traders know that when there is a disagreement among the Organization of Petroleum Exporting Countries, OPEC members, or the OPEC+ members, which include Russia, this has a massive influence on oil prices.

This year oil demand has been adversely influenced due to the coronavirus. In addition to this, the oil supply war between Saudi Arabia and Russia brought mammoth moves in Crude and Brent prices. But an agreement was made among OPEC members to curb the oil supply. Now, cracks are appearing again among OPEC members over the oil supply ahead of their key oil production cut agreement. This means that we could see massive moves for both Crude and Brent in the coming days if the situation isn't dealt with properly. 

(Photo by YASSER AL-ZAYYAT / AFP) (Photo by YASSER AL-ZAYYAT/AFP via Getty Images)



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Are Crude And Brent Oil Up Or Down YTD?

Crude oil prices are down -26% year-to-date, whereas Brent oil has lost more than 20% of its value YTD. However, since the start of this month, Crude oil is up 24%, and Brent oil has surged 26%. 





When Is The OPEC Meeting?