Saudi Arabia wants an oil price of $100

Saudi Arabia oil minister Khalid al-Falih and Russian energy minister Alexander Novak participated in a joint conference in Riyadh.
It became clear that the leading oil exporter, Saudi Arabia, would have been happy with a rise in the price of oil to 80, and why not even to $100 a barrel. This was accepted by investors and analysts as a sign that we will not see a change in OPEC's production constraints soon.
OPEC, together with Russia and several other leading manufacturers, began to jointly reduce oil production in January 2017 in an attempt to stabilize the cost of raw materials. They extended their agreement by the end of this year.
Recently, however, speculation is increasingly becoming among oil analysts that these measures will continue next year.
Over the past year, Saudi Arabia has become one of the main supporters of restrictive measures in the industry that will lead to a rise in the price of oil.

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.

Oil collapsed last week

Oil prices dropped severely last week after Russia rejected OPEC's offer to reduce production.
US crude oil lost nearly 3 percent of its value, a similar decrease was also noted with the price of the Brent.
In May, OPEC, along with Russia, decided to continue its production cuts by the first quarter of next year.
A little later, however, it became clear that the OPEC countries did not stick to the agreement reached.
Obviously, Russia's response to the proposal has come precisely as a result of non-compliance with OPEC members' restrictions.
Many market experts comment that the depreciation of oil may recover after its last increase from the last week and again see a test at its lowest levels.

Russian Sports Minister rejected the probability of transfer the 2018 World Cup to another country

Russian Minister of Sport Vitaly Mutko has rejected the probability that the 2018 World Cup will be moved from Russia to another country. "The Commission has worked for more than a year, after which the report was prepared, which was only one conclusion: there are no accusations against Russia, we led a fair fight. FIFA's Executive Committee approves the fact that Russia and Qatar will hold the world championships.", - Said Vitaly Mutko in an interview.
"At the FIFA Congress on Friday, have passed a testing of the electronic voting system, in which delegates were asked to answer the question: "Do you know that the 2018 World Cup will be held in Russia?". 197 votes said "yes". It seemed to me that those who voted against, is our opposition. Therefore, formally speaking, the Congress supported the world Cup in Russia, there are no more questions about it." - said Mutko.