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OIL
OIL: Oil has slipped through the Asian session following both comments from
Pavel Sorokin, the Russian Deputy Energy Minister said that OPEC+ has shown its
efficiency but it is not infinitely efficient - signaling that it would be
difficult for each individual country to agree on any further cuts to output.
- Oil also came under some pressure yesterday after Genscape stated that
inventories at the storage hub in Cushing Oklahoma rose over the past week.
- Bloomberg are reporting on a Citi note that said that OPEC+ cuts are can be
rationalised but relations between Saudi Arabia and Russia are slipping.
- Both Brent and WTI futures were around 40c/bbl lower at the time of writing.

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