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71% of retail investor accounts lose money when trading CFDs with this provider.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
70.91% of retail investor accounts lose money when trading CFDs with this provider.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.91% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your money. Read full risk warning.
EU Session Analysis for CFD Instruments 01/12/2023
Fundamental analysis
01 December, 2023
Crude oil is trading lower at around 75.84
Crude oil futures traded lower on Friday morning as the market was disappointed with the voluntary production output cuts announced by OPEC and its allies, known as OPEC+.
Rather than distributing the production output cuts among the member countries, OPEC+ meeting on November 30 announced further voluntary cuts of around 2.2 million barrels a day during the first quarter of 2024 among eight members.
Of the 2.2 million barrels of voluntary production output cuts, 1 million barrels a day was the extension of Saudi Arabia’s existing production output cut, and Russia’s 500,000 barrels a day (from the existing 300,000 barrels a day) cut. The extension of production output cut by Saudi Arabia and Russia was expected by the market.
This made the effective additional voluntary output cuts to be in the range of around 900,000 barrels a day in the first quarter of 2024.
