Russia's Deputy Pm Novak Says We Will Tell New Main Parameters Of OPEC+ Deal Next Week
Portfolio Pulse from Happy Mohamed
Russia's Deputy Prime Minister Novak has announced that the main parameters of the OPEC+ deal will be revealed next week. This could potentially impact the oil market and related ETFs.
August 31, 2023 | 2:54 pm
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NEUTRAL IMPACT
The SPY ETF, which tracks the S&P 500, could be impacted by the OPEC+ deal as it includes companies from the energy sector.
The SPY ETF tracks the S&P 500, which includes companies from the energy sector. Any significant changes in the oil market due to the OPEC+ deal could potentially impact these companies and, by extension, the SPY ETF.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The USO ETF, which tracks oil prices, could be directly impacted by the OPEC+ deal, depending on the parameters that will be revealed.
The USO ETF directly tracks oil prices. The parameters of the OPEC+ deal could potentially influence oil prices, thereby impacting the USO ETF.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 80