Oil News

OPEC including Saudi Arabia and Kuwait have made clear they will tolerate $50 a barrel to help pull the world from recession

OPEC including Saudi Arabia and Kuwait have made clear they will tolerate $50 a barrel to help pull the world from recession

Middle East energy ministers may agree this weekend that letting oil prices rise eventually in order to stimulate investment is just as vital as keeping crude at $50 for now to aid the ailing world economy. Members of OPEC including Saudi Arabia and Kuwait — both of whom will attend Sunday’s biennial meeting of Asian consumers and Gulf exporters — have made clear they will tolerate $50 a barrel to help pull the world from recession. Crude Oil is trading at $50.07 as of 11:30am, London Time. Crude Oil’s Pool-Position is 85% Long, meaning that most Finotec clients are buying the commodity.

Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and now serve clients of all sizes in many locations worldwide, offering them real-time Internet trading not only in currencies, but also in options, commodities,... More