The prospects for a fall in oil prices are not small. Oil has had a long upward trend. After that, it strengthened at the top and went into a flat without leaving the working price range. The fall in oil may be affected by fears of a new wave of pandemic. Which is clearly gaining momentum. Mostly in some Asian countries. There are also expectations to increase oil supplies from Iran. And this week there will be a meeting of the OPEC countries. At which a decision will be made on the volume of oil production. Which will become the key for the formation of the price of oil quotes.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.