The Oilprice has declined along with the stock market but Opec leaders agreed to cut production of 1,5 bpd with Russia support as Coronavirus hits demand. At the same time we have 2 and 10 year treasury yield below 1 percent. Investors are not shure how to react to the Coronavirus. A virus that usually has mild or no symptoms at all, according to experts.
Opec members will cut 1,0 mil bpd and its non-Opec allies (led by Russia) will cut by 0,5 mil bpd instead. This is interesting as we look towards OPEC talks on Friday. OPEC will hold a press conference on Friday after the OPEC meeting.
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Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shinybull.com. The author has made every effort to ensure the accuracy of the information provided; however, neither Shinybull.com nor the author can guarantee the accuracy of this information. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities, or other financial instruments. Shinybull.com and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
