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Deal Reached To Maintain Output At Broadly Same Level In Feb & Mar

OPEC

Reports emerging that OPEC+ members have agreed to broadly maintain production levels around their current amounts for both February and March.

  • As stated in our 1534GMT EM bullet on Russia, Russia and Kazakhstan are set to boost production while Saudi Arabia engages in a voluntary production cut according to wire reports.
  • Deal sparks gains for WTI, which crosses USD50/bbl for the first time since February 2020.

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