MNI: PBOC Net Drains CNY248 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1996 Tue; -1.92% Y/Y

MNI: US NOV FINAL MANUF PMI 49.7 (FLASH 48.8); OCT 48.5

MNI NBP WATCH: Another Policy Hold, Dovish Communications Tilt

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

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI:AUSTRALIA Q3 CURR ACCT BALANCE -14149M

MNI: UK BRC NOV BY VALUE SHOP SALES LFL -3.4% YY, TOTAL -3.3% YY

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US Administration Pushing Against OPEC+ Cuts

OIL

The US is pushing OPEC+ nations not to cut production ahead of reports that the group could announce deep cuts later today.

  • The Biden Administration has been under intense pressure to keep prices down at the pumps after record high prices this summer.
  • The US is arguing to OPEC+ that economic fundamentals do not support an output cut.
  • Sources suggest OPEC+ is working on cuts of over 1mn bpd – though the impact of them could be far less given the group has struggled to even come close to current targets.
  • Russia is reported to be in favor of cuts to support higher prices. It would also support Russia with signs it is struggling to find destinations for all of its crude flows – which would be exacerbated after the EU import ban.
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.