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What to Watch: OPEC JMMC, Genscape ARA & EIA US Inventories

ENERGY
  • The OPEC+ JMMC monitoring committee meets today at 13:00 CET but is unlikely to recommend any oil output policy changes.
  • The latest Genscape European ARA crude inventories will be released today at 09:00BST. Stocks last week rose to 51.62mbbs but still below normal compared to the previous five year average at 54.6mbbls.
  • The EIA weekly petroleum inventory data for the week ending Mar. 29 is due for release today at 10:30ET (15:30BST). Crude inventories are expected to remain relatively unchanged with small draws for gasoline and distillates stocks according to a Bloomberg survey. US refinery utilisation is expected to increase again after recovering from a low in Feb.

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