Imagine a large scale unregulated and, on top of it, the world's oil. A day goes down, the other goes up. So are the prices of "black gold" that haven't been able to reach a high in constancy, even after the agreement of the Organization of petroleum exporting countries (Opec).
In fact, this agreement to keep down the oil production to increase the demand and thus the price of it, is the subject of many discussions in the oil and gas market. The OPEC agreement was held at the end of 2016 and, it seems, should be extended until the end of 2017.
Oil experts predict that commodity prices could fall, if the OPEC agreement and other major producing countries is not stretched. That will be decided at the next meeting of the cartel, scheduled to occur on May 25, in the city of Vienna, capital of Austria.
At first the agreement would end next June. Now is to wait for the decisions of Opec and how the market will react to a next extent of cuts in world oil production. We're still watching.
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