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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.
OIL
Russia’s crude production in May saw the deepest cut in a year to 9.393mb/d but still exceeds a target of 9.049mb/d, according to Bloomberg based official data.
- Russia cut output by 683kb/d in May compared to the pledge to reduce its output by 0.9mb/d in the month. Deputy Prime Minister Alexander Novak said last week that the compliance with its output target was “close to 100%” in May.
- Russia will gradually compensate for excess production beyond its OPEC+ quota in April, with volumes confirmed within a week, Novak said cited by Bloomberg on June 6.
- Russian plans to implement an increase in output reductions this quarter while expanding its exports by a similar amount.
Source: Bloomberg
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.
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