MNI China Daily Summary: Thursday, December 12

RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

RBC in "Lean Cut" Camp Ahead of OPEC Meeting

OIL

OPEC has two options at its meeting this weekend according to RBC in a research note – deeper cuts or staying the course.

  • The bank views the meeting being in person as raising the possibility of deeper cuts due to macro concerns and demand softness.
  • RBC does not believe that Saudi Arabia is frustrated enough about market share loss in Asia that it is seeking to repeat the March 2020 production battle with Russia.
  • Though the bank believes that having an in-person meeting provides OPEC with considerable latitude for a deeper cut, it does not rule out that the group stays the course on the current agreement.
  • April’s surprise cuts showed that the group is not bound to a formal meeting schedule to make adjustments, it said that “maximum optionality appears to be the prevailing mantra at the moment”.
  • Due to price weakness, RBC places itself in the in the “lean cut” camp at the upcoming meeting.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.