MNI BRIEF: BOJ Tankan To Show Slipping Sentiment

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI China Daily Summary: Thursday, Dec 5

MNI BRIEF: China Construction Output Slows In November

MNI: GERMANY OCT IND PROD -1% M/M

US EIA:NAT GAS STORAGE -30 BCF TO 3,937 BCF NOV 29 WK

MNI: CANADIAN OCT TRADE BALANCE CAD -0.9 BILLION

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

On Track For Weekly Loss

OIL

Crude futures are lower in Asia on Friday, WTI dropping around $0.20 from settlement levels, last at $65.82/bbl, Brent shedding around $0.10 from settlement at $69.53/bbl. WTI is on track to decline around 0.4% this week, even as prices hover near the highest level in two years.

  • Yesterday OPEC lowered its forecasts for demand in its MOMR. The coalition reduced its oil demand forecast for Q1 and Q2 by 180k bpd and 310k bpd, respectively. "Oil requirements in H1 2021 are adjusted lower, mainly due to extended measures to control COVID-19 in many key parts of Europe. In addition, elevated unemployment rates in the US slowed the recovery process," OPEC said in the report. For the medium term, the group remained optimistic. It said that oil demand recovery would be backloaded in the second half of the year and it raised its estimates for Q3 and Q4 by 400k bpd and 970k bpd, respectively.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.