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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.
OIL
Russia has nearly reached its target for voluntary crude oil production cuts for the first time since making the pledge last year, according to Bloomberg.
- Russia pumped 1.29m mt of crude in January, equivalent to around 9.46m b/d.
- Russia has pledged to cut output by 500k b/d from Feb 2023 levels. Output in Jan was 490k b/d below this level.
- On top of this pledge, Russia also vowed to cut exports of crude and products by a combined 500k b/din Q1.
- The IEA reported earlier that Russia exported 7.7m b/d of crude and products in January, compared to 7.4m in May-June 2023.
- Russia does not publicise its data due to sensitivity amid sanctions.
Source: Bloomberg
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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