Russian Deputy PM Novak Says Russia And OPEC+ Partners Will Make A Decision On What Is Best For Oil Market
Portfolio Pulse from Benzinga Newsdesk
Russian Deputy PM Novak stated that Russia and OPEC+ partners will make a decision on what is best for the oil market, according to Reuters.
May 25, 2023 | 7:21 pm
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NEUTRAL IMPACT
Russia and OPEC+ decision on oil market may impact global markets, potentially affecting SPY.
The decision by Russia and OPEC+ on the oil market may have an indirect impact on global markets, including the US market. As SPY is an ETF that tracks the S&P 500, it may be affected by any significant changes in the oil market. However, the impact is uncertain as it depends on the decision made by Russia and OPEC+.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Russia and OPEC+ decision on oil market may directly impact USO, a crude oil ETF.
The decision by Russia and OPEC+ on the oil market will likely have a direct impact on the price of crude oil. As USO is an ETF that tracks the price of crude oil, it will be directly affected by any changes in the oil market. The impact is uncertain as it depends on the decision made by Russia and OPEC+.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Russia and OPEC+ decision on oil market may indirectly impact VGK, a European stock market ETF.
The decision by Russia and OPEC+ on the oil market may have an indirect impact on European markets, including the stocks tracked by VGK. As VGK is an ETF that tracks the European stock market, it may be affected by any significant changes in the oil market. However, the impact is uncertain as it depends on the decision made by Russia and OPEC+.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60