MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI China Daily Summary: Monday, December 9

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

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

Saudi Arabia Likely to Extend 1mbpd Output Cut into 2024: Amrita Sen

OIL

Saudi Arabia is expected to extend its voluntary 1mbpd output cut into the first quarter of next year, if not to the first half of the year, Amrita Sen, Co-Founder of Energy Aspects, said.

  • Current oil prices are not low enough for OPEC+ to deepen supply cuts in 2024, Sen said.
  • “The problem still remains the underlying dichotomy with US policies.” Sen said, referring to US sanctions.
  • The US has lifted sanctions on Venezuela, which is expected to improve heavy oil supplies to the US and Europe at the expense of China, while oil from Russia and Iran continued to be exported, despite sanctions.
  • “They do want to reduce revenues for Russia without disrupting flows,” she added.
  • Iran’s crude oil production in the meantime has gone up by 600kbpd, sending record volumes of oil to China, she added.
  • The next OPEC+ ministerial meeting will be held on 26 November in Vienna.
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.