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WTI & Brent sit ~$0.30 above their respective...>

OIL
OIL: WTI & Brent sit ~$0.30 above their respective settlement levels at typing,
alongside an uptick in e-minis since settlement.
- The latest OPEC+ JMMC meeting seemingly lacked any concrete discussion re: the
extension of the current production pact, with some of the serial overproducers
given until Monday to outline their plans re: compensation for overproduction
N.B. Iraq & Kazakhstan already presented their own compensation plans on
Thursday.
- Elsewhere, Thursday saw Russian Energy Minister Novak suggest that the global
oil market may reach a balance by the end of 2020/in early 2021. However, he
also didn't rule out a swifter attainment of balance.
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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