Crude
Oil recovered slightly ahead of OPEC meeting
June 2nd 2015
Crude oil prices recovered slightly on Tuesday to trade above $60 per barrel, after it witnessed a sharp decline during yesterday trading session, amid the rising of the U.S Dollar, also due to worries that OPEC would not cut the output at its meeting this week. In fact, the OPEC countries will meet on Friday June 5th to discuss its production strategy, and it is expected to maintain its current production. However, the prices recovered at the bending of today session, and were supported by the Saudi oil minister Ali al-Naimi statements that demand would increase during the second half of the year.
June 2nd 2015
Crude oil prices recovered slightly on Tuesday to trade above $60 per barrel, after it witnessed a sharp decline during yesterday trading session, amid the rising of the U.S Dollar, also due to worries that OPEC would not cut the output at its meeting this week. In fact, the OPEC countries will meet on Friday June 5th to discuss its production strategy, and it is expected to maintain its current production. However, the prices recovered at the bending of today session, and were supported by the Saudi oil minister Ali al-Naimi statements that demand would increase during the second half of the year.
