Crude Oil Rallies, but Upside is Limited as Russia to Increase Output while Uncertainty to Recovery Still High

Crude oil prices rallied last week, with the front-month WTI and Brent contracts gaining +8.9% and 7.8% respectively. The market was thrilled by Saudi Arabia’s voluntary output cut and increase in export prices. Stabilization in the pandemic also added optimism.However, producers such as Russia are likely to expand production amidst price rally, while the uncertainty […]

The post Crude Oil Rallies, but Upside is Limited as Russia to Increase Output while Uncertainty to Recovery Still High appeared first on Action Forex.

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