MNI BRIEF: Inflation Risks Now Shifted To Downside-BOE Ramsden

MNI: Goolsbee Says Stalled Inflation Means Wait Before Moving

MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Firmer As Potential OPEC+ Production Cuts Eyed

OIL

WTI and Brent are $1.60 firmer apiece, building on their respective higher closes on Friday ahead of the OPEC+ meeting, as participants watch for possible cuts to production quotas (after the Saudi energy minister surfaced the topic two weeks prior).

  • To elaborate, OPEC+ will decide on output quotas for October later today, with WSJ source reports suggesting that the group will keep targets steady mainly on Russian opposition to a cut.
  • A note that earlier source reports have suggested that the OPEC+ decision on output cuts will depend in part on the return of Iranian crude to global markets.
  • On that topic, progress towards a U.S.-Iran nuclear deal remains scant, with the U.S. on Friday rejecting a recent Iranian demand to close IAEA investigations into Iranian nuclear activity.
  • Looking ahead, efforts to secure wider participation in the G7’s price caps on Russian oil will be in focus (particularly from China and India), with Russia having stated that they will not supply oil and oil products to countries adopting the measure.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.