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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.
OIL
A WSJ story claims that UAE and Saudi have had behind closed-door arguments about a range of topics, including energy, which may lead to the UAE pulling out of OPEC.
- The UAE is understood to be unhappy with its obligations to pump far less crude than it is capable of producing as part of OPEC commitments.
- Saudi and the UAE are the only OPEC members with any meaningful spare production capacity.
- Emirati officials say, the UAE is having an internal debate about leaving OPEC, a decision that would shake the cartel and undermine its power in global oil markets according to the WSJ reports.
- Oil markets have dropped on the news of potentially higher production volumes flooding the market.
- See chart for OPEC spare capacity from Bloomberg.
- *WTI Oil Drops 2.3% to $76.36 After WSJ Reports 'Growing Rift' in OPEC - bbg
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.
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