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Crude Pulls Back on Mixed OPEC Views


Crude pulls back flat on the day with reports suggesting mixed views of future OPEC production plans.

  • Argus reported some sources saying a formal proposal to reduce production is not on the table but others say cuts are possible and could be in reaction to an Iran nuclear deal.
  • US EIA weekly petroleum data is due for release later this afternoon with a small crude draw expected.
    • Brent OCT 22 up 0.1% at 100.37$/bbl
    • WTI OCT 22 up 0.1% at 93.83$/bbl
    • Gasoil SEP 22 up 2.6% at 1147.75$/mt
    • WTI-Brent down -0.06$/bbl at -6.53$/bbl
    • Brent OCT 22-NOV 22 down -0.12$/bbl at 0.93$/bbl
    • Brent DEC 22-DEC 23 up 0.55$/bbl at 9.88$/bbl

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