News
Join
Oil

Crude oil futures jump higher at the week's open on Saudi output cut news

Eamonn Sheridan
04/06/2023 | 22:07 GMT

Adam had the news out of the OPEC+ meet meeting as it happened:

  • Saudi Arabia to make 1m bpd production cut, others to extend cuts through 2024

Oil futures are higher, of course, a rapid pop as short covered and a retrace of some of the move, but by no means all. Bets are now open for how long it'll take that gap to fill:

wti oil futures 05 June 2023 saudi cuts

Tags

  • Oil
  • Follow Oil
  • Save

Most Popular

  • US stocks open lower. Nasdaq hit the hardest.
  • At the close: Nasdaq leads US stocks lower
  • The USDJPY is testing the high from last week
  • Shameless plug. Attacking Currency Trends by Greg Michalowski. A bargain on Amazon
  • Catch up - OPEC+ does not have "the bandwidth to prop prices much higher"
  • EURUSD falls back below the 200 hour MA after break higher fails
  • What's at stake for the dollar in 2025?

Follow Us

Subscribe to Forexlive's Daily News Wrap

Read our Terms, Cookies and Privacy Notice

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions.

Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and links to selected news, blogs and other sources of economic and market information for informational purposes and as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically hereby acknowledges clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided on an "as-is" basis as a general market commentary and does not constitute investment or trading advice, and we do not purport to present the entire relevant or available public information with respect to a specific market or security. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information, or with respect to any of the content presented within its website, nor its editorial choices.