The Production Cut Agreement
2020年10月22日 日常The private American Petroleum Institute (API) is due to publish its weekly crude stocks estimates later on Tuesday, followed by the official Energy Information Administration (EIAD) data due on Wednesday.International Brent crude oil futures were trading at $51.International Brent crude oil futures were trading at $51. Singapore: Oil prices dipped early on Tuesday over disagreement within producer cartel OPEC on who should cut how much production in a planned coordinated reduction to prop up prices.
US West Texas Intermediate (WTI) crude futures were down 5 cents at $50."Crude oil prices labored under the weight of various OPEC members seeking exemption from the production cut agreement," ANZ bank said on Tuesday.Until there is more clarity on the planned cut, which OPEC hopes will be coordinated with non-members like Russia, analysts said oil prices would likely remain range-bound - but volatile - around current levels.US crude inventory data is closely watched as a means to estimate the country’s supply overhang.jpg International Brent crude oil futures were trading at $51.38 per barrel at 0117 GMT, down 8 cents from their last close.38 per barrel at 0117 GMT, down 8 cents from their last close.38 per barrel at 0117 GMT, down 8 cents from their last close.47 a barrel.
Iraq’s oil minister Jabar Ali al-Luaibi said the second-largest producer in the Organization of the Petroleum Exporting Countries (OPEC) wanted to be exempt from output curbs as it needed more money to fight Islamic State militants."Expect more of this https://www.foamingscrew.com/ choppy interplay until more concrete news emerges, as speculative buying runs into record producer selling of the futures contracts for hedging," said Jeffrey Halley, senior market analyst at brokerage OANDA in Singapore.
US West Texas Intermediate (WTI) crude futures were down 5 cents at $50."Crude oil prices labored under the weight of various OPEC members seeking exemption from the production cut agreement," ANZ bank said on Tuesday.Until there is more clarity on the planned cut, which OPEC hopes will be coordinated with non-members like Russia, analysts said oil prices would likely remain range-bound - but volatile - around current levels.US crude inventory data is closely watched as a means to estimate the country’s supply overhang.jpg International Brent crude oil futures were trading at $51.38 per barrel at 0117 GMT, down 8 cents from their last close.38 per barrel at 0117 GMT, down 8 cents from their last close.38 per barrel at 0117 GMT, down 8 cents from their last close.47 a barrel.
Iraq’s oil minister Jabar Ali al-Luaibi said the second-largest producer in the Organization of the Petroleum Exporting Countries (OPEC) wanted to be exempt from output curbs as it needed more money to fight Islamic State militants."Expect more of this https://www.foamingscrew.com/ choppy interplay until more concrete news emerges, as speculative buying runs into record producer selling of the futures contracts for hedging," said Jeffrey Halley, senior market analyst at brokerage OANDA in Singapore.
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