Extended stay in Vienna
Yesterday’s meeting for OPEC+ members was adjourned, despite a partial agreement reached between the two heavyweights of the group, Saudi Arabia and Russia. The agreement…
Brent prompt future prices retreated by 1$ at 56 $/b as most European countries doubled-down on restriction measures due to the expansion of the new strain of coronavirus. However, improved market conditions in the US, with an inventory draw in US commercial stocks and higher refining runs, are helping prices to potentially solidify at current levels. Chinese customs detailed preliminary trade data, showing December’s crude oil imports 15% below November’s level.
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