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WTI & Brent sit $0.20-0.30 lower than...........>

OIL
OIL: WTI & Brent sit $0.20-0.30 lower than settlement levels at typing,
unwinding some of Wednesday's uptick, with the spectre of deeper Sino-U.S.
tensions weighing on risk appetite overnight.
- This comes after the OPEC+ JMMC unveiled a rollback in the current production
pact, as expected, which will see participating nations curtail production by
8.1-8.3mn bpd vs. the baseline.
- Elsewhere, Wednesday's weekly DoE report revealed deeper than expected
drawdowns in crude and gasoline stocks, as well as a surprise drawdown in
distillate stocks and an uptick in stocks at the Cushing hub.
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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