On Thursday, information about the outcome of the OPEC meeting in Vienna leaked to the market and traders reacted immediately. One of the summit participants hinted that they managed to extend the OPEC+ agreement. Analysis of the crude production cut will be carried out in mid 2018 in order to assess the work done and decide on the future of the agreement. On the back of this hint, the Brent Crude Benchmark advanced above $64 per barrel. Later, investors calmed down and decided to wait for an official statement by the OPEC member and check whether the information is true. However, the Texas Light Sweet Crude Oil was trading in a calmer fashion near the market of $57.57 per barrel.
The WTI Benchmark price was under pressure amid concerns over oil production in the US. Though, the Energy Department reported on a decline of 3 million 429 thousand barrels in crude stocks, it revealed higher gasoline and distillate fuel production. Before the New York trades, the greenback proved forecasts of experts who supposed that the greenback will close November in the red. The US dollar index dropped below 93.00 levels. Today, the situation may change sharply as Friday will be rich in macroeconomic events.