Free Trial
USDCAD TECHS

Heading South

AUDUSD TECHS

Northbound

EURJPY TECHS

Breaches Key Short-Term Support

US TSYS

Late SOFR/Treasury Option Trade

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

Producers Agree To 2mn bpd Output Cut

OPEC+

Wires reporting that the OPEC+ Joint Ministerial Monitoring Committee (JMMC) has agreed to a 2 million barrel per day output cut.

  • The cut is double the 1mn/bpd reduction that had been speculated on before today's meeting in Vienna.
  • Likely to cause significant consternation at the White House, with US President Joe Biden believed to have sought to convince Saudi Arabia not to engage in any notable production cuts during his August visit to the Middle East.
74 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.

Wires reporting that the OPEC+ Joint Ministerial Monitoring Committee (JMMC) has agreed to a 2 million barrel per day output cut.

  • The cut is double the 1mn/bpd reduction that had been speculated on before today's meeting in Vienna.
  • Likely to cause significant consternation at the White House, with US President Joe Biden believed to have sought to convince Saudi Arabia not to engage in any notable production cuts during his August visit to the Middle East.