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Headwinds For Crude Persist


News that U.S. President Trump will go into COVID-19 quarantine has weighed on the broader risk tone in Asia-Pac hours, after crude struggled on the back of Thursday's fiscal impasse in DC. Both benchmarks sit ~$0.50 below their respective settlement levels at typing.

  • A reminder that Thursday saw the latest BBG survey note that "OPEC's crude output held steady last month as the United Arab Emirates pulled production back sharply in atonement for recent months of oversupply. The UAE slashed by 310,000 barrels a day, or roughly 10%, in order to better comply with limits set by the cartel."
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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