MNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors

MNI BRIEF: German Insolvency Rate Slows, 2025 Pickup Expected

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: US REDBOOK: DEC STORE SALES +4.2% V YR AGO MO

US Q3 REV NONFARM PRODUCTIVITY +2.2%; Y/Y +2.0%

US NFIB NOV SMALL BUSINESS INDEX 101.7

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

OPEC Cuts To Weigh On Inventories, Push Prices Up To Low 90s $/bbl: Currie

OIL

“We will see substantial physical inventory draws because of these OPEC production cuts, particularly during the third quarter but also in the fourth quarter. That is going to push oil prices into the low 90s $/bbl”, Jeff Currie, Global Head of Commodities Research at Goldman Sachs, said.

  • Following the OPEC+ meeting on 4 June, Goldman Sachs said in a note that the meeting was moderately bullish and offset some bearish downside risk to its $95/bbl December forecast.
  • The bank also said Saudi Arabia’s decision to cut production by 1mbpd in July will support Brent prices by $1-6/bbl, depending on the duration of the cut.
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.