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A report expects "floundering" in the oil market with an upcoming meeting of OPEC Plus
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Today, Tuesday, global oil prices witnessed a decline in the price of a barrel of oil, following expectations of a continuation of the process of rising prices that continued for the past week, driven by an increase in demand following the decline in Iraq's oil exports as a result of the previous crisis between Baghdad and Erbil.
Reuters International Agency said in its translation report (Baghdad Today), that the US Central Bank's decision to raise interest rates to a dollar today led to a rise in its value, which led to a decrease in demand for oil.
And she pointed out that "the rise in dollar prices will lead to countries that depend on other major currencies that will try to reduce the purchase of oil because it has become more expensive," according to its description.
The agency also confirmed that the world is now waiting for the next decisions, the most important of which is the return of Iraqi exports from the Kurdistan region to the market.
She pointed to "the meeting of the OPEC Plus group next May, which may issue a decision to reduce oil production, in addition to the decisions of the US Federal Reserve and the central banks of Britain and the European Union expected to exit after the meetings on the second and third of next May on combating inflation, to find out what it will lead to." A new situation in the energy market.
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