Today, the movement of oil prices is insignificant. Market participants expect the results of the meeting of the largest exporters of "black gold". In April, the instrument rebounded from the multi-year lows, as Russia, Saudi Arabia, and the United States agreed to hold another round of negotiations in the OPEC+ format.
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Oil prices continue to trade within a narrow sideways range of 32.50–30.50 before the OPEC+ meeting on Thursday.
Oil prices started the week with a decline due to the fact that investors were disappointed with the postponement of the emergency meeting of OPEC+ from Monday to Thursday. However, this is not a final decision: the date may be revised.
Today, during the Asian session, oil prices grow, despite the opening with a negative gap. Now, the instrument tries to consolidate above 32 dollars per barrel and approaches local highs, renewed last Thursday. Positive dynamics is due to the improving prospects for concluding a new agreement on OPEC+ production limitation.