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OIL: WTI & Brent stuck to near unchanged levels overnight. - WTI hit fresh
multi-month lows yet again on Wednesday, with crude pressured by FT sources
claiming Russia is planning to increase output & the EIA reporting a larger than
exp. build of headline U.S. crude inventories in its latest weekly inventory
- It is worth noting that OPEC+ producers will meet this weekend, with a
discussion of potential 2019 output cuts reportedly on the agenda. Those reports
had supported crude early Wednesday, before the bid faded. Wednesday also saw
Platts cover comments from an OPEC delegate who stated that Saudi & Russia
should cut production by 1mn bbl/d immediately.