Oil rises 2% ahead of OPEC + decision to reduce production

Oil prices jump 2% ahead of decision OPEC + to cut production. Brent went up at 9:29 1.94% to $ 56.35, WTI rose 2.34% to $ 51.94. The OPEC + Technical Committee decided to hold unscheduled meeting on Thursday. Market players expect that OPEC + will take effective measures to stabilize prices for `` black gold '', the demand for which significantly decreased in connection with the problem of coronavirus. The growth of quotations was also facilitated by data on oil production in United States. As the report published By the US Department of Energy on Wednesday week its volume decreased by 100 thousand barrels and reached marks of 12.9 million barrels per day. According to analysts at Capital Economics, published by Reuters, a slight decrease in inventory indicates the demand for oil in the United States, however, it is not enough to even partially cover the drop in demand for raw materials in China due to the outbreak coronavirus.