Focus on Monday fell on the OPEC+ JMMC gathering, which made no recommendation re: the producer production pact, as expected, while Russia seemingly failed to submit a compensation plan re: its overproduction relative to its allocation under the deal. Elsewhere, the rhetoric coming out of the meeting surrounding the outlook for the oil market was generally guarded to negative and has likely contributed to post-settlement weakness for crude.
Monday reports also pointed to yet another incremental uptick in Libyan production/supply, keeping the space in check.
Weekly API crude inventory estimates are due after hours on Tuesday.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

Commodities Equities Bullet Markets Fixed Income News Foreign Exchange News

Anthony Barton

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

Commodities Equities Bullet Markets Fixed Income News Foreign Exchange News

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