Free Trial
CHINA PRESS

China Should Act Early To Avoid Balance Sheet Recession

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Potential for OPEC+ Production Cuts Supports Crude Spreads

OIL

Crude continues to rally on the potential for production cuts from OPEC+.

  • The group will discuss a potential cut to output at their meeting on Oct 5 according to Bloomberg. After the previous meeting Saudi Arabia said the group would remain pre-emptive and proactive in stabilising the oil market. At the time of the last meeting, when the group cut production for October by 100kbpd, Brent was trading just over 95$/bbl.
  • The Dec22-Dec23 time spread is up to the highest since Sep 5.
    • Brent NOV 22 up 0.2% at 89.5$/bbl
    • WTI NOV 22 up 0.2% at 82.29$/bbl
    • WTI-Brent unchanged at -7.18$/bbl
    • Brent NOV 22-DEC 22 down -0.01$/bbl at 1.26$/bbl
    • Brent DEC 22-JAN 23 up 0.08$/bbl at 1.85$/bbl
    • Brent DEC 22-DEC 23 up 0.36$/bbl at 11.1$/bbl
119 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Crude continues to rally on the potential for production cuts from OPEC+.

  • The group will discuss a potential cut to output at their meeting on Oct 5 according to Bloomberg. After the previous meeting Saudi Arabia said the group would remain pre-emptive and proactive in stabilising the oil market. At the time of the last meeting, when the group cut production for October by 100kbpd, Brent was trading just over 95$/bbl.
  • The Dec22-Dec23 time spread is up to the highest since Sep 5.
    • Brent NOV 22 up 0.2% at 89.5$/bbl
    • WTI NOV 22 up 0.2% at 82.29$/bbl
    • WTI-Brent unchanged at -7.18$/bbl
    • Brent NOV 22-DEC 22 down -0.01$/bbl at 1.26$/bbl
    • Brent DEC 22-JAN 23 up 0.08$/bbl at 1.85$/bbl
    • Brent DEC 22-DEC 23 up 0.36$/bbl at 11.1$/bbl