The markets anxiously waiting to see whether the largest oil exporters in the world and will form tomorrow at the summit of OPEC an agreement that will lead to the reduction of output and stabilizing prices of black gold.
The oil is trading right now with volatility and the market analysts are warning that without a formal agreement to reduce the output, the oil prices could fall below the level of $ 40 a barrel and $ 30 a barrel in the near term.

The oil continue to draw interest as the major oil exporters are expected to meet on Wednesday to decide whether to formulate an agreement on reducing output.
If they would fail to form such an agreement is estimated that the market price of the black gold may climb to a price level of 60 dollar per barrel within a few months.