Adam had the news on Thursday:
I posted yesterday on what’s coming up from Saudi Arabia next week:
ANZ on further cuts:
- Crude oil prices rose amid a broad risk-on tone across markets. However, news that Russia agreed further OPEC+ cuts amplified the move. Deputy Prime Minister Alexander Novak is expected to announce the plans next week. He said earlier this week Russia was in discussion with OPEC+ partners about extending its oil export cuts in October. It had already committed to a cut of 300kb/d for September.
- This comes amid signs of tightening in the physical market. US commercial inventories fell 10.6mbbl last week. Signs of stronger demand were also evident in the product market, with implied gasoline demand (on a four-week basis) pushing higher for the first time in three weeks.
Russian Deputy Prime Minister Alexander Novak