Russia's Deputy PM Has This To Say On Upcoming OPEC+ Meeting In Vienna
Portfolio Pulse from Bhavik Nair
Oil prices continue to fall as Russia's Deputy Prime Minister Alexander Novak indicates that OPEC+ is unlikely to alter production levels at its upcoming meeting in Vienna. This has led to a decline in the United States Brent Oil Fund (BNO) and the Vanguard Energy Index Fund ETF (VDE).
May 26, 2023 | 6:00 am
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NEGATIVE IMPACT
United States Brent Oil Fund (BNO) closed 2.25% lower on Thursday due to falling oil prices and Russia's indication that OPEC+ is unlikely to change production levels.
The decline in oil prices due to Russia's indication that OPEC+ is unlikely to change production levels directly impacts the United States Brent Oil Fund (BNO), causing it to close 2.25% lower on Thursday.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Vanguard Energy Index Fund ETF (VDE) lost 1.89% on Thursday as oil prices continue to fall and Russia indicates that OPEC+ is unlikely to alter production levels.
The falling oil prices due to Russia's indication that OPEC+ is unlikely to change production levels directly impacts the Vanguard Energy Index Fund ETF (VDE), causing it to lose 1.89% on Thursday.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100