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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.
OPEC+
The OPEC+ cut to production targets last week risks pushing the market into deficit, could drive up prices and could push the global economy into recession according to the IEA yesterday.
- "The relentless deterioration of the economy and higher prices sparked by an OPEC+ plan to cut supply are slowing world oil demand" according to the IEA.
- "With unrelenting inflationary pressures and interest rate hikes taking their toll, higher oil prices may prove the tipping point for a global economy already on the brink of recession,"
- Saudi Arabia and UAE will delivery most of the real production cuts due to group member underproduction. Nigeria, Angola and Russia are lagging the furthest behind OPEC+ production targets. OPEC output in 2022 is expected to rise by 2.57mbpd from last year to just below 29mbpd but could have been as much as 1mbpd higher without member underproduction according to MEES.
Source: IEA
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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