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WTI & Brent sit a touch higher on the day,......>

OIL
OIL: WTI & Brent sit a touch higher on the day, adding $0.10 & $0.20 to their
respective settlement levels at typing, after lodging similar gains come
Thursday's settlement. Asia trade has been quite limited, with the modest early
downtick unwound, although ranges remain tight.
- Thursday saw RTRS & BBG source reports point to a weekend gathering for the
OPEC+ nations. However, a recent tweet from an Energy Intelligence reporter
noted that "there are early signs indicating that Mexico might have objections
to extending the current OPEC+ pact. In recent months, President Andres Manuel
Lopez Obrador has stood by his plans to grow the country's hydrocarbon sector
and push for self-sufficiency. The OPEC+ meeting date remains up in the air.
There's still a big push by Gulf states and Moscow to get countries that didn't
comply to the cuts in May to improve their compliance and makeup for the
shortfall in coming months."
- This comes after BBG noted that Saudi & Russia came to an agreement with Iraq
re: compliance on Thursday.
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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