MNI: US NOV FINAL SRVCS PMI 56.1 (FLASH 57.0); OCT 55.0

MNI BRIEF: Barkin Aims For 'Somewhat Restrictive' Fed Rates

MNI BRIEF: US Pay Gains Stabilizing At Higher Rate -ADP

MNI China Daily Summary: Wednesday, Dec 4

MNI BRIEF: China Must Quicken Reforms To Boost Domestic Demand

MNI: PBOC Net Drains CNY227 Bln via OMO Wednesday

EZ/UK Bond Supply Calendar: Spain, France Auction, UK Tender

US EIA: CRUDE OIL STOCKS EX SPR -5.07M TO 423.4M NOV 29 WK

MNI: US ISM NOV SERVICES COMPOSITE INDEX 52.1

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Maintaining Russian Output Could Drive Crude Lower: Citigroup

OIL

Maintaining Russia crude and fuels output could push crude to fall by more than 10$/bbl from current levels by the end of the year according to Ed Morse from Citigroup in a Bloomberg interview.

  • He said Russian oil may be selling at a discount, but it isn’t disappearing from the market. He added that sentiment that Russia would have to cut its refining output and ship more crude has not happened yet.
  • The oil product market has not seen the anticipated supply shock from Europe’s ban on Russian oil. Distillates exports from the Middle East and Asian nations such as India and higher export quotas from China helped Europe to build inventories.
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.