Oil is traded higher

This morning, the New York futures for Brent increased 0.23% to $ 48.05 and WTI rose by + 0.12% to $ 49.01 per barrel. Thus, the black gold is trading in the green zone amid uncertainty in the run-up to the OPEC summit and low activity in connection with the celebration of Thanksgiving Day.

Many experts believe that OPEC will be able to reach some sort of mutual agreement on the reduction of production in spite of the lack of unity among the members of the cartel with respect to whom and how much to reduce its volume. At the same time traders are skeptical that it will be enough to reduce the oversupply in the world market.

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