Crude oil price drop on the eve of OPEC+ meeting

Deltafx Admin 31 January 2023

Despite the optimism of the markets regarding the improvement of the commercial and economic conditions of China against the doubts about the interest rate policy of the Federal Reserve and expectations for the OPEC+ decision on the process of reducing crude oil production, the price of crude oil decreased in the markets today.

China’s business activity grew more than expected in January, official data showed, showing that the country’s economy is clearly on the road to recovery after most anti-Covid restrictions were lifted earlier in the month.

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