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Westpac: Signs That Employment Momentum Has Eased


(Z2) Fades Into Weekly Close


CBA Look For Employment To Grow Around Recent Trend


Firmer & Flatter To Start, Labour Market Data Eyed

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OIL: The major crude benchmarks trade marginally lower at writing, WTI & Brent
last down ~$0.10, after tracking broader risk sentiment, rebounding from early
lows on optimism surrounding some re-opening of business operations in China,
albeit in an un-streamlined manner.
- On a more negative note RTRS subsequently reported a likelihood of deeper
throughput cutbacks from PetroChina citing company officials.
- Elsewhere, a final Russian decision re: OPEC+ production hasn't been
forthcoming, with market jittery over the lack of commitment apparent thus far
(although this is the usual etiquette for the Russians around such decisions).
It probably didn't help that Azerbaijan's Energy Minister told reporters that he
expects that there will not be an early OPEC+ ministerial meeting convened in
the wake of last week's JTC.
- Elsewhere, Friday saw WSJ sources note that Saudi Arabia "is set Monday to
restart oil production in a long-dormant operation it shares with Kuwait."
- One eye also remains on Libyan output, as it ratchets lower alongside the
continued domestic unrest.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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