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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.
RUSSIA
- Russia is currently seeing the highest ruble-denominated oil prices in its history, adding an intriguing dynamic going into today's OPEC+ talks on potential output levels into year-end
- Some analysts are even forecasting oil to reach $100/bbl in the near future and many sell-side institutions estimate RUB as 10-13% undervalued vs the current spot rates. This has been helping RUB remain strong vs its EM peers and helped its stock index outperform in recent months.
- Windfall profits are also set to boost the domestic budget, FX reserves, terms of trade, current account dynamics and filter through into higher earnings for exporters.
- The focus at this meeting will be on whether the cartel opts to maintain its current supply dynamics amid fluctuating inventory data following output disruptions due to storms in the Gulf.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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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