OPEC's Barkindo says it is too early to say if further output cuts are needed
|- Oil moves another leg lower after comments from the OPEC secretary-general.
- Spot WTI is now 0.91% lower on the session.
OPEC Secretary General Barkindo says it is too early to say if further output cuts are needed
The oil market was struggling today anyway after Trump failed to confirm if any progress was made in the trade war with China.
Today we will also get the API inventory data a day late as it was veterans day in the US on Monday.
Yesterday, Saudi Arabia stated they are looking for ways to increase oil demand by up to an extra 8 million barrels per day.
-637092358379821169.png){kind=link}
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.