The OPEC+ meeting will be held this Wednesday: will the organization decide to cut oil production? And especially in what proportion? We are also awaiting the PMI and ISM indices of activity in services, in Europe and the United States.
The OPEC+ meeting and services indices | Photo credits: iStock
To support oil prices, are the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on the way to reducing black gold production by a million barrels a day? According to information reported by press agencies, the subject will be at the heart of the meeting to be held this Wednesday in Vienna, face-to-face. We will also learn, during the day, the level of weekly oil inventories of the Department of Energy in the United States.
Several activity indices (PMI) in the services sector for the month of September are also on the program. In the euro zone, the indicator should remain in the contraction zone at 48.9 points. In the United States, its equivalent the ISM is expected to decline by 0.9 points, to 56 points, but still in an expansion phase.
More jobs created in the United States?
Across the Atlantic, still, the ADP survey on job creation in the private sector will hold particular attention. They are anticipated at 200,000 for September by the Bloomberg consensus, against 132,000 the previous month. The stat always precedes official Department of Labor figures by two days. To follow, also, the trade deficit of August, anticipated in slight reduction, to 67.7 billion euros (-70.7 billion euros the previous month).
Before the opening of the Paris Stock Exchange, the markets will also have learned of the evolution of the trade balance in Germany and of the industrial production index in France, both for the month of August.
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