Russia confirmed that it will not attend the OPEC meeting
Oil prices lowered on Tuesday with almost 2%. This happened because experts and investors are still fidgeting about the oil deal that will be discussed on Wednesday's meeting, when OPEC members will meet to decide the future deals on crude oil production.
Reports that showed a disagreements over Iran and Iraq production levels led to the preliminary meeting on Monday, but the technical committee was unable to meet a decision.
On Tuesday, Russia confirmed that it will not attend the OPEC meeting in Vienna on Wednesday.
Even though Russia is not an OPEC member, some rumors said that the country might attend the meeting.
Oil Ministers of Algeria and Venezuela traveled to Moscow to convince Russia to attend OPEC, but Russia's declaration on Tuesday confirmed that their actions were in vain.
Crude oil futures in USA went down 2.02% at $46.13.
Brent oil futures lowered 1.99% to $48.23.
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On Wednesday, Federal Reserve Chair Janet Yellen spoke about the interest rates and about the United States' economy
The gold prices dropped below $1.200
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