After yesterday’s vote by the British parliament, investors positively assessed the prospects and the British pound jumped again, updating local highs, so we can expect that soon the pair Pound/Dollar may reach 1.35.
The United States has pondered the NOPEC (Non-Oil-Producing-and-Exporting-Cartels) law and Congress will soon begin its consideration. This law was developed 18 years ago, but previous presidents George W. Bush and Barack Obama rejected it. This news caused resonance and clear disapproval from the Allies. The former OPEC President and Minister of Petroleum of the United Arab Emirates Suhail Al Mazrui arrived in the United States. Presumably, at a closed meeting options were made to cancel the consideration of the draft law or mitigate the consequences for the kingdom.
Given American sanctions and the tense situation in Venezuela, which is part of OPEC, this law can be signed by Donald Trump, who likes to commit abrupt acts as head of the White House.
The law was developed by the anti-monopoly committee to reduce the influence of a number of countries on oil prices, based on the fact that prices for oil products are too high.
This will affect a number of countries living through the export of energy resources and whose economy directly depends on the price and volumes of oil production, such as Iran, Saudi Arabia and a number of other states.
