Crude oil prices steadied near $30 a barrel Tuesday morning on reports that OPEC may finally curb production to alleviate the global supply glut.
Kuwait’s OPEC Governor Nawal al-Fuzaia blamed non-OPEC rivals such as the US and Canada for not doing enough to boost prices by limiting energy supplies.
Crude oil for March delivery was up 3 cents at $30.35 a barrel, not far from a recent 12-year low.
On the economic front, the 2-day FOMC meeting is scheduled to begin later today, and the policy statement is due only on Wednesday.
The material has been provided by InstaForex Company – www.instaforex.com