MNI: US Dec Consumer Inflation Expectations Mixed -NY Fed

MNI BRIEF: BOC Releasing Pandemic Actions Review Jan 17

BANK OF CANADA RELEASING PANDEMIC REVIEW REPORT ON JAN 17

MNI China Daily Summary: Monday, January 13

MNI BRIEF: China December Vehicle Sales Up 10.5%

MNI BRIEF: PBOC To Add Forex Reserves Allocation In HK - Pan

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, Greece Syndications

MNI BRIEF: China 2024 Exports Grow 5.9% Y/Y

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Saudi Arabia and Russia Likely to Extend Output Cuts: UBS

OIL

Saudi Arabia and Russia are next month likely to extend the oil output cuts according to UBS.

  • “With oil demand seasonally weakening at the first quarter of every year, and with OPEC+’s desire to keep the oil market in balance, we think these cuts are likely to be extended next month,” said Giovanni Staunovo at UBS.
  • “We continue to expect Brent oil to move back into a $90–100/bbl range, supported by lower oil inventories.”
  • Saudi and Russia on Sunday reaffirmed commitment to their current voluntary oil supply cut levels until the end of the year in near joint announcements.
  • As part of the commitments Saudi has reduced crude production by 1mbpd and Russia has curbed exports by 300kbpd, on top of earlier cuts made with OPEC+ nations.
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.