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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.
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Free AccessReuters OPEC+ Survey Sparks Oil Reversal
OPEC+ is set to proceed with its plans to bring barrels back to the market from October according to six Reuters sources, prompting the latest crude sell off.
- Eight OPEC+ members are scheduled to boost output by 180,000 bpd in October the sources said. They mark the start of plans to unwind the most recent layer of output cuts of 2.2 million bpd while keeping other cuts in place until end-2025.
- Libyan barrels coming off the market and Fed cut rate optimism are cited as some of the motivating factors despite a weak Chinese backdrop.
- Brent OCT 24 down -1.6% at 78.63$/bbl
- WTI OCT 24 down -2.4% at 74.07$/bbl
To read the full story
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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.