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Petrol to get cheaper thanks to OPEC decision to up oil production

From thewest.com.au

Australian petrol is expected to get cheaper after a decision to increase global fuel production. The NRMA said petrol prices could fall by as much as four cents per litre thanks to the decision by the Organisation of Petroleum Exporting Countries (OPEC) to increase production volumes. “With OPEC finally agreeing to lift oil production, there is some degree of confidence that prices will fall,” NRMA spokesman Peter Khoury said. However, he said the lockdowns in NSW, Victoria and South Australia would have little impact on the price, even though fewer motorists would head to servos to fill their tanks. ”Unfortunately, ... (full story)

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  • Category: Fundamental Analysis