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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
OPEC+ has delayed the upcoming ministerial meeting from November 26 to November 30 as it aims to align the group amid disagreement on output assessment from African nations according to WSJ.
- The biggest producers in Africa of Angola and Nigeria disagree so far with production estimates supplied to OPEC by third-party analysts according to delegates.
- Discontent within comes as Saudi has shouldered much of the efforts to shore up global oil prices alone.
- A previous meeting in June almost collapsed when the two African nations had clashed with Saudi Arabia over their output level. A fall in 2024 quotas were agreed unless the countries could demonstrate higher production capacity before November.
- One African OPEC delegate previously said that a minor reduction would be tolerable but a significant cut was "not even an option" according to S&P Global.
- Brent JAN 24 down -4.2% at 78.96$/bbl
- WTI JAN 24 down -4.4% at 74.37$/bbl
Source: S&P Global
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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