Meeting takes place on December 6/7

  • oil output in Russia in 2019 is expected for now at the same level as this year
  • 2019 oil output could be adjusted depending on OPEC and non-OPEC oil producers deal
  • there will be a decision in Vienna on whether to cut oil output

The price of WTI crude oil futures trading unchanged at $51.50. The low price reached $49.65. The high price has extended to $51.79.

We are trading closer to the highs. If oil production is cut and/or there is a truce in US/China tariffs, it could help lift global demand for oil. \

PS. US crude output in September rises to a record 11.475M B/D. That according to the EIA.