MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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

MNI Commodity Analysis – Saudi Warns Shorts Ahead of June OPEC Meeting

OIL

Executive Summary:


  • Crude markets are weighing up the possibility of further OPEC+ production cuts at their June 3-4 meeting in Vienna or whether the latest voluntary commitments and growing Chinese demand will result in enough market tightening in the second half of 2023 to prompt a rollover.
  • Numerous bank forecasts, along with OPEC themselves, forecast a shortfall in global production versus demand later this year while a May crude price recovery may be enough to keep producers happy at present levels.
  • Vessel tracking shows that key producers such as Saudi are slowing their exports volumes through April/May indicating that voluntary cuts are being adhered to. As for Russia, high export volumes suggest cuts are not being met but there is growing confidence that high refinery maintenance is pushing barrels onto the export market and that cuts are actually underway.
Full piece here:

MNI Commodity Analysis - Saudi Warns Shorts Ahead of June OPEC Meeting.pdf

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.