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Free AccessCrude Regains Ground from Earlier Losses
Crude regains ground due to supply concerns as OPEC Secretary General Haitham Al Ghais again defends the OPEC+ production cut for November and December.
- OPEC sees an oil surplus in Q4 2022 and early 2023 as the main reason for the cut in targets.
- OPEC also raised their medium to long term demand forecasts due to more robust 2022 and 2023 and a slower substitution of oil by other fuels.
- Brent JAN 23 down -0.5% at 93.31$/bbl
- WTI DEC 22 down -0.7% at 87.26$/bbl
- Gasoil NOV 22 down -1.9% at 1111.75$/mt
- WTI-Brent up 0.1$/bbl at -7.8$/bbl
- Brent JAN 23-FEB 23 down -0.07$/bbl at 1.84$/bbl
- Brent FEB 23-MAR 23 down -0.04$/bbl at 1.58$/bbl
To read the full story
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Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.