Oil will drop after OPEC meeting?

Comments on the OPEC meeting sent the price of the Brent upward over the past week, but hedge funds saw a good opportunity to reduce their exposure to oil.
The latter cut their bullish bets on the Brent, taking advantage of the raw material growth.
Forecasts have shown that it is possible for the price of oil to fall significantly after the OPEC meeting, similar to what happened earlier this year.
The Brent is traded close to its highest value in two years before the OPEC meeting, which will be held on 30 November in Vienna. The Cartel and Russia are expected to extend their production cuts by the end of next year.
According to market observers, however, OPEC and Russia are still working on smoothing the conditions for the future continuation of the current conditions.
Market participants still remember what happened in May before the OPEC meeting. Oil futures rose 10% before the decision after which the price dropped seriously after disclosure of the redundancies.
Still, there are still many investors who believe that oil can continue to rise, at least until the OPEC meeting.