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It was a limited session for WTI & Brent,.......>

OIL
OIL: It was a limited session for WTI & Brent, with the former $0.10 or so worse
off at writing, while Brent sits ~$0.30 higher.
- The OPEC+ production deal, which results in a 1.2mn b/d reduction of oil
output between the participating nations, propelled prices higher Friday,
proving the scepticism that traders held going into Friday's crunch talks
unfounded. Details of the deal remain vague, with Venezuela, Libya & Iran
receiving exemptions from the pact.
- RTRS source reports from the weekend suggested that Saudi crude exports for
the month of January will fall by ~1mn b/d vs. November levels, while reports
also suggested that Libya's largest oil field has been closed.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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