OPEC output rose in Feb for first time in 4 months – RTRS survey

OPEC crude oil output rose 110K barrels per day to 30.32 million bpd, according to a Reuters survey. It’s the first gain since October and comes on higher supply from Iraq and Saudi Arabia.

WTI crude oil prices are down $1.30 today after declining 5.6% in February. Additional supply could weigh further on the market.

Author: Adam Button

Adam Button is the editor of ForexLive™. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes deeply in the value of knowing every tidbit of news. He has a background in journalism and was formerly the head of the markets team at the Canadian Economic Press. He is a graduate of Ryerson University and completed Level 1 of the CFA program. Adam lives in Montreal, follow him on Twitter: @FX_Button.

3 Comments

  1. Hi Adam, can you please providing insight into cable? As it has since fallen a 1000 pips since the start of the year, what are the odds of it going down further more without any correction?

  2. Looking at option expires at 1500 GMT, see that option expire of 1.30000 is reported to be large. Euro holding around that area at present. Interesting to see what may happen at the cut.

  3. could you kindly help me to understand what happen to EURO,if their is a cut,it will go down OR up?

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