Oil quotes are correcting downward.
Despite the severe Hurricane Ida , prices are declining, which forced mining companies to cut oil production in the Gulf of Mexico by 91% (about 1.65 million barrels). However, after reaching the coast of Louisiana, the hurricane began to subside, which convinces investors of the short duration of its consequences for the oil market. On Wednesday, experts expect a meeting of representatives of the producing countries participating in the OPEC + deal. They are expected to discuss the introduction of additional oil volumes to the market.
Despite the severe Hurricane Ida , prices are declining, which forced mining companies to cut oil production in the Gulf of Mexico by 91% (about 1.65 million barrels). However, after reaching the coast of Louisiana, the hurricane began to subside, which convinces investors of the short duration of its consequences for the oil market. On Wednesday, experts expect a meeting of representatives of the producing countries participating in the OPEC + deal. They are expected to discuss the introduction of additional oil volumes to the market.