• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Best Managed Accounts
  • Forex Robots
  • Forex Brokers
  • Forex Signals
  • Social Trading Platforms

Forex Traders Guide

The Ultimate Forex Knowledge Base

  • Robots
  • Start Guide
  • Glossary
  • Basics
    • Currency Pairs
    • Charts
    • Candlesticks
    • Trading Tips
  • Strategies
    • Technical Analysis
    • Fundamental Analysis
    • Day Trading
    • Scalping
    • Swing Trading
    • Trend Following
  • News
  • Reviews
    • Forex Robots
    • Forex Brokers
  • Mustreads
  • Crypto Trading

Oil Dip 5% on OPEC+ Supply Boosts Amid Demand Concerns on Covid Cases Surge

July 19, 2021 by Forex Winner Leave a Comment

Oil Dip 5% on OPEC+ Supply Boosts Amid Demand Concerns on Covid Cases Surge

Oil prices plummeted more than 5% on Monday, the biggest drop since March, as OPEC+ agreed to increase output. CL1! is down -6.72%.

  • Brent oil traded at $ 69.68 a barrel, a $3.61 or 4.9% decline by 1405 GMT while U.S oil traded at $68.06 a barrel, a fall of $3.75 or 5.2%.
  • Analysts have attributed the move by OPEC+ as a step towards free and increased production capacity by members.
  • Oil prices were also dampened by concerns over weakened demand as Covid-19 cases rose globally. 
  • OPEC+ cut crude oil supply by 10 million barrels per day last year, causing prices to reduce to a negative metric. The members have eased controls with supply curbs now at 5.8 million bpd.

Best Forex Robots ›

Compare leading trading systems on the market

Filed Under: Forex News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Best Forex Robots

  1. Techberry 8.7
  2. Happy Forex 8.0
  3. Forex Fury 7.7
  4. Promax Gold EA 6.8
  5. Gump EA 6.4

Best Forex Brokers

  1. Techberry 8.7
  2. XM 8.2
  3. eToro 8.1
  4. Pepperstone 8.1
  5. IG 8.0

Latest News

How to Predict Forex Movement?

November 30, 2022

The Red Dog Reversal: A Strategy for Day or Swing Trading

November 9, 2022

Tron DAO to Pull Out Additional 3 Billion TRX

Tron DAO to Pull Out Additional 3 Billion TRX

June 16, 2022

Footer

Forex Broker Reviews

FXCM

FXCM Review

November 13, 2019 By Forex Winner

exness

Exness Review

September 10, 2019 By Forex Winner

avatrade

AvaTrade Review

February 24, 2020 By Forex Winner

Forex Robot Reviews

Profit Lab EA Review

Profit Lab EA Review

June 28, 2022 By Forex Winner

GoodMorning EA

GoodMorning EA Review

June 23, 2022 By Forex Winner

FxHT Daily Trend EA Review

FxHT Daily Trend EA Review

June 22, 2022 By Forex Winner

EMAIL NEWSLETTER

Sign up to receive exclusive forex trading guides and insights from our team of experts!

Copyright © 2023 · Forex Traders Guide · About Us · Contact Us
Privacy Policy · Risk Disclosure