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What to Watch:

OIL

The OPEC+ meeting is due to start at 14:30 Vienna time today. Pressure on the group continues to mount to supply more oil. All eyes are on whether Saudi and the UAE announce to cover any Russian production shortfall.

  • The EIA releases it weekly oil report, a day later than usual because of US a public holiday this week. Of particular interest is whether US distillate stocks keep tumbling now that summer demand for jet and gasoline are mounting.
  • The EIA also announce their gas report.

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