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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.
OIL
The eight Opec+ members that agreed to make additional cuts of 1.16mn b/d from May achieved a combined reduction of 1.06mn b/d in June, falling nearly 100,000 b/d short of their effective target according to Argus estimates.
- Saudi Arabia's production was just under its ceiling of 9.98mn b/d in June but is scheduled to fall to just under 9mn b/d this month and in August.
- Argus estimates Opec 10 production at 23.56mn b/d in June narrowly higher than May’s rate of 23.5mn b/d.
- Iranian crude production has passed the 3mn b/d mark, according to oil minister Javad Owji. Argus assessed the country's output at 2.91mn b/d in June, the highest since November 2018. The country does not have a production target.
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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