According to the statements of the news agencies, the OPEC + negotiations, which lasted 4 days in the online format, ended with the adoption of an agreement that suits all interested parties to one degree or another on reducing production capacities and volumes of crude oil supplies to the international market.
The opening trading sessions of the main stock exchanges reacted to the positive news on Monday with a very confident and quite expected growth in quotations, at the moment reaching 9% without any rush demand. But, already by noon Central European time, prices had rolled back almost to their starting positions for today.
According to leading analysts, this is due to the consequences and uncertainty for the global economy that the COVID-19 coronavirus epidemic has brought. In addition, there is some doubt about how exactly the negotiated parties will adhere to the agreements reached.
The expected explosive rise in oil prices did not follow
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