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OIL: Oil has traded in a narrow range through the Asian session with both Brent
and WTI trading around USD0.20/bbl higher than yesterday's close.
- Headlines within the last half an hour seem from a delegate have stated that
OPEC+ will meet on July 1-2 to discuss output for the second half of the year
with the UAE reportedly saying that no change to output is appropriate. This is
the third time that suggested meeting dates have been mooted and comes after
heavy speculation through the overnight session.
- There was little reaction to headlines overnight that a rocket had been fired
near an Exxon Mobil worker's camp.
- Yesterday Canadian Prime Minister Justin Trudeau confirmed that the government
has agreed an expansion of the Tran Mountain pipeline that runs from Vancouver
to Alberta, which would add ~ 590k b/d shipping capacity.