No date yet for OPEC+ emergency meeting – Reuters

Eren Sengezer FXStreet

No meeting has yet been set up between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers, Reuters reported on Thursday, citing OPEC sources.

Meanwhile, a Wall Street Journal reporter, via Twitter, said Saudi Arabia was considering an oil-output reduction to below 9 million barrels per day if other producers join the effort.

Market reaction

The barrel of West Texas Intermediate, which touched a two-week high of $27.32 earlier in the session, seems to be consolidating its gains as details emerge. As of writing, the WTI was up 17.6% on the day at $24.90.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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