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MNI Commodity Weekly: OPEC+ at Odds in Attempted Supply Defense

Photo by Shaah Shahidh on Unsplash
aerial photography of tanker ship
  • OPEC+ at Odds Ahead of Mounting a Supply Defense: Headlines circulate this week about the potential for another meeting delay as Saudi struggles to gain traction towards collaborative production cuts as Angola/Nigeria dissatisfaction steals the limelight from the main thrust of the meeting.
  • Oil Markets: Crude markets are supported by Black Sea storm disruption and a weaker US dollar this week as the market looks for certainty from ongoing OPEC+ output and quota discussions.
  • Gas Markets: European natural gas prices are headed for the first monthly drop since July as winter risks ease. Global LNG demand remains sluggish despite colder than normal weather in the northern hemisphere. US natural gas prices are also trending lower amid continued record-high production and a mild weather outlook.
Full piece here:

MNI Commodity Weekly - OPEC+ at Odds in Attempted Supply Defense.pdf




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