Oil price rise on Opec-led supply cuts

Demostenes Florosaboutenergy.com

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In addition to the OPEC+ deal and the turmoil in the Latin American country, another bullish factor was a slight depreciation of the dollar and the impression that the Federal Reserve will not implement a strong tightening monetary policy in 2019 as it was previously supposed

Oil and currency trends

In January, barrel prices strongly increased, because OPEC+ members have been starting to implement the Vienna agreement reached on November 30th 2018.