U.S. crude oil gains more than 2% as market looks to OPEC+ meeting on production levels
Publishing timestamp: 2024-05-28 13:24:54
Summary
OPEC+ will hold a virtual meeting on Sunday to review its production policy. Market analysts expect them to maintain current production levels. U.S. crude oil gained over 2% on Tuesday ahead of the meeting. Deutsche Bank predicts Brent prices to stay around $80 per barrel. Pressure may grow on OPEC+ to raise output after June meeting. Saudi Arabia understands the need to balance oil prices. Goldman recommends buying call options in stocks benefiting from AI-driven energy demand surge. Wells Fargo is bullish on dividend payers. Goldman is also positive on nuclear power and uranium. Analysts predict a 140% rally in a global stock due to hydrogen fuel boom.
Sentiment: NEUTRAL
Tickers: @CL.1, @LCO.1, @NG.1, %40RB.1?QSEARCHTERM=%40RB,
Keywords: wti crude (mar'23), investment strategy, markets, business news, ice brent crude (apr'23), breaking news: markets, oil and gas, natural gas (mar'23),
Source: https://www.cnbc.com/2024/05/28/crude-oil-prices-today.html