Oil prices are gaining strength on Tuesday morning among continued market speculation Opec will announce a further reduction in production at its meeting in Vienna on Sunday where at least "some level of cuts will be announced”, said a player.
The front month contract for Brent North Sea crude oil was last seen changing hands at USD 44.78/bbl on the ICE platform, up USD 0.65 on Monday's close.
"The question of the day is: what is Opec going to do?” analysts at Societe Generale said, adding good compliance with the cartel's last cut was an argument for further cuts on Sunday. "Opec has earned credibilit
Dienstag, 10.03.2009, 08:13 Uhr
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