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WTI & Brent are little changed at writing,......>

OIL
OIL: WTI & Brent are little changed at writing, after the benchmarks added
~$0.90 & ~$0.60 respectively on Thursday, as they drew support from the latest
"developments" in Sino-U.S. trade relations, clinging onto the coat tails of the
equity rally in the process.
- Oil related news flow saw source reports pointing to Russian average crude
output of 11.31mn BPD over 1-28 August (vs. 11.15mn seen in July), a little
above the 11.17-18mn BPD that it is permitted to produce under the OPEC+
production pact.
- Participants will look out for the latest Baker Hughes rig count reading, due
later today.
- As a reminder Brent's V9 contract rolls off the board later today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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