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MNI Commodity Weekly: Russia Commits to OPEC+ Overproduction Plan

Commodities Weekly AnalysisAnalysisCommodities

Executive Summary:

  • Russia Commits to OPEC+ Overproduction Plan: Russia’s persistent overproduction has drawn questions from the market over its commitment to OPEC+ measures but a plan submitted to the group Wednesday shows intent along with increasing levels of compliance.
  • Oil Markets: Crude markets have fallen this week with renewed bearish pressure driven by China weakness, a stronger dollar and renewed Gaza ceasefire hopes. Diesel and gasoline crack spreads have found some support after the bearish trend since July 2 amid muted summer demand and healthy supplies.
  • Analyst Views: See oil market views by biggest names in the industry.
Full piece here:

MNI Commodity Weekly - Russia Commits to OPEC+ Overproduction Plan.pdf



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Executive Summary:

  • Russia Commits to OPEC+ Overproduction Plan: Russia’s persistent overproduction has drawn questions from the market over its commitment to OPEC+ measures but a plan submitted to the group Wednesday shows intent along with increasing levels of compliance.
  • Oil Markets: Crude markets have fallen this week with renewed bearish pressure driven by China weakness, a stronger dollar and renewed Gaza ceasefire hopes. Diesel and gasoline crack spreads have found some support after the bearish trend since July 2 amid muted summer demand and healthy supplies.
  • Analyst Views: See oil market views by biggest names in the industry.
Full piece here:

MNI Commodity Weekly - Russia Commits to OPEC+ Overproduction Plan.pdf