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Crude Prices Slip Friday Ahead of US Pricing Data

OIL

Crude prices have slipped Friday ahead of US pricing data due later and with a backdrop of oversupply through 2024 according to the latest IEA monthly report.

  • Crude remains at the upper end of its trading range of 2024.
  • Russia has nearly reached voluntary OPEC+ targets for the first time since making the pledge last year according to Bloomberg calculations.
  • Iraq and Kazakhstan have pledged compliance with their targets after failing to achieve them in January.
  • Brent APR 24 down -1% at 82.06$/bbl
  • WTI MAR 24 down -0.8% at 77.39$/bbl

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