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Three countries that are important players on the world oil market (Venezuela, Iran and Iraq) were not enthusiastic about the Russia and Saudi Arabia plans to increase the raw materials production volume within the framework of the OPEC + 11 agreement (Oil Cut Deal). 

The U.S. dollar quotations growth has increased the pressure on the commodity market. As a result, in the course of trading on the New York Mercantile Exchange, the futures for the commodity asset "Gold" have been depreciated, having lost 0.44% or 5.70 points by this time, reaching the mark of $ 1.302.60 per troy ounce.

The trading session on the European oil market has started not in the best way for the oil companies. The Oil prices, under the pressure of statistics from the US, have begun to depreciate and in a short time, in the case of futures for Brent, the depreciation has reached half a percent.

The last trading session of this week did not bring any positive signals for the oil investors. On the world Oil Market, sharp fluctuations of quotations caused by statistical data from the USA are noted, where significant growth of the raw materials extraction volumes is being marked.

The beginning of this week has turned out to be extremely unsuccessful for oil producers. By noon, the North Sea Brent Crude Oil quotations have been depreciated by about half a percentage point, succumbing to pressure from the US market, which recorded a record volume of mining.

In his interview with the authoritative world news agency, the Deputy Minister of Energy of the Russian Federation, P. Sorokin, has first voiced an extremely ambitious government plan. According to this plan, Russia intends to increase production of liquefied natural gas up to 100-120 million tons per year by 2035. 

According to the latest forecasts of oil market analysts, we will be able to observe a significant increase in supply caused by an increase in the raw materials export volume from the Russian Federation, the United States and Saudi Arabia in the near future. Such a forecast has confirmed the market participants’ expectations, who apprehended the news about the decrease in the "black gold" exports from Iran and Venezuela, which faced a tough regime of sanctions again.

During the trading session on Monday, there has been noted a decline in prices for the "Gold" commodity asset. The demand for this asset usually grows during a tension period in the world political arena, but as we see, at the moment, the relations normalization between the United States and North Korea is taking place.

The latest news from Russia has allowed the analysts to forecast that the threshold of the oil production allowed volume within the framework of the OPEC + 11 Agreement will be increased by 1 million barrels / day soon.

As a result of the Wednesday’s trading session in the Chinese stock market, the analysts have recorded a decline in the major indices, which is explained by negative statistics in strategically important sectors of the country's economy. The companies from the telecommunications, oil and gas industry, as well as the insurance field, have become the depreciation leaders today.

As for OPEC + 11, the past week was marked with positive changes in the Oil prices. It should be noted that the Oil quotations have exceeded the $ 80 mark per barrel for the first time since 2014. 

The Friday’s trading session in the Asia-Pacific commodity market was marked by the fact that the Oil prices have exceeded the $ 80 per barrel mark for the first time since 2014. Contrary to the increase in production in the USA, the quotations continue to be appreciated, which can be explained by the anxiety of investors amid uncertainties about the deal with Iran in the nuclear program.

During the today's trading session on the COMEX (a division of the New York Mercantile Exchange), the value of the “Gold” commodity asset futures contracts has been significantly appreciated. What is the reason for such interest of investors in these assets?

Despite the fact, that last week the world oil market showed confidence, the first trading session of the week has begun with a decline in oil futures quotations.

The forecast of the analysts of an authoritative investment bank, the Bank of America, stirred up the world oil market yesterday. This forecast carefully analyzes how the change in the balance of supply and demand will affect the "black gold" world market and how the sanctions against Iran will affect the world market as a whole.

Recent forecasts of the influential American experts convincingly prove that the world oil market will grow steadily in the medium term. The most important criteria ensuring the oil quotations appreciation are the tense situation in the most important regions of the world in terms of oil production, as well as the persistence of OPEC + 11 in the recovery of oil prices to above $ 100 per barrel.

By the closing moment of the Friday’s trading session on the COMEX commodity exchange (the New York Mercantile Exchange subdivision), the price of “Gold” asset contracts has been slightly appreciated. At the same time, the experts have noted a decline in quotations of all other precious metals, as well as of “Oil” and “Gas” commodity assets.

During today's trading session in the commodity market of the Asia-Pacific region, the “Gold” commodity asset prices have been adversely affected by the USD appreciation. As a result, by this time, the futures contracts for the “Gold” commodity asset are traded at the mark of $ 1326.80 per troy ounce (-0.47% or 6.20 points).

At the end of last week, the President Donald Trump delivered a critical speech against the OPEC, which he accused of artificially inflating the price of oil. The market has reacted instantly to this discourse, and as a result, the quotations have gone down sharply. 

The Asian trading session has been closed in the green zone for all the oil market players. Such growth has become possible due to statistics, which convincingly proves that the oil volumes in American storage facilities decreased by 1.07 million barrels.