Calm day for the energy markets
The European power spot prices continued to progressively rise yesterday, supported by forecasts of weaker wind output combined with stronger power demand for today. The…
Crude prices rallied by 5% as OPEC decided to roll over the current production agreement, while Saudi Arabia extended its voluntary cut for another month. The radical change in the group’s strategy, now aiming at price appreciation instead of volumes, is predicated on the assumption that US producers will not enter the market in 2021.
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