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Saudi extends voluntary oil cut of 1M b/d to end 1Q24
*SAUDI EXTENDS VOLUNTARY OIL CUT OF 1M B/D TO END 1Q24: SPA
— Nour Eldeen Al-Hammoury (@NourHammoury) November 30, 2023
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*KAZAKHSTAN TO CUT OIL OUTPUT BY ADDITIONAL 82K B/D IN 1Q: IFX
— zerohedge (@zerohedge) November 30, 2023
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*SAUDIS SEE OIL OUTPUT AT 9M B/D AT END OF MARCH: STATEMENT
— zerohedge (@zerohedge) November 30, 2023
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ALGERIA TO CUT OIL PRODUCTION BY 51,000 BPD FOR Q12024 - STATEMENT
— First Squawk (@FirstSquawk) November 30, 2023
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*KUWAIT SAID TO MAKE ADDITIONAL 135K B/D OPEC+ OIL OUTPUT CUT
— Nour Eldeen Al-Hammoury (@NourHammoury) November 30, 2023
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The 36th OPEC and non-OPEC Ministerial Meeting (ONOMM), was held via videoconference, on Thursday November 30, 2023. The Meeting welcomed HE Alexandre Silveira de Oliveira, Minister of Mines and Energy of the Federative Republic of Brazil, which will join the OPEC+ Charter of Cooperation starting January 2024. The meeting reaffirmed the continued commitment of the Participating Countries in the Declaration of Cooperation (DoC) to ensure a stable and balanced oil market. In view of current oil market fundamentals, the Meeting: 1. Reaffirmed the Framework of the Declaration of Cooperation, signed on 10 December 2016 and further endorsed in subsequent meetings including the 35th OPEC and Non-OPEC Ministerial Meeting on 4 June 2023; as well as the Charter of Cooperation, signed on 2 July 2019. post: OPEC+ ministerial meeting said to have ended #oott post: Told there’s unlikely to be an Opec+ press conference, so anyone hoping for greater clarity… join the queue, I guess
As previewed repeatedly in recent days, and as Reuters once again leaked overnight, moments ago the delayed OPEC+ meeting concluded with the expanded cartel agreeing on an ...
I’m delighted to be speaking at Leeds Business School, and to be visiting Leeds for the first time. I’ll keep my initial remarks short to save time for a fireside chat and then, most importantly, your questions. I’d like to explain how I approach interest rate decisions, how the UK’s medium-term outlook may have shifted over the past year and what this all means for monetary policy. Interest rate considerations The task for the MPC is to return inflation to our 2% target in the medium-term. This can be tricky in the face of supply shocks like a pandemic and jump in energy prices. These shocks can cause a trade-off between bringing inflation down and avoiding a significant slowdown in growth and jump in unemployment. Monetary policy feeds through into the economy with a lag, so I have to make interest rate decisions based on where I expect the economy to be in the medium-term. Conditioned on a series of assumptions, the MPC’s November modal forecast predicts a soft landing: inflation returns to 2% in 2025, growth stagnates for the next year and a half and unemployment rises to just over 5% by the end of 2025. Because I come from the Dismal Science, I’d like to discuss m post: <GBP=>:*BOE'S GREENE: CONCERNED SOFT LANDING MIGHT GO WRONG IN UK *BOE'S GREENE: WORRIED ABOUT MORE PERSISTENT INFLATION IN UK post: MORE BOE'S GREENE: 'FOR A GIVEN LEVEL OF INTEREST RATES ... POLICY IS LESS RESTRICTIVE THAN WE'D THOUGHT' #megangreene #bankofengland #ukeconomy #monetarypolicy #inflation #interestrates post: MORE BOE'S GREENE: DOING TOO LITTLE ON INTEREST RATES MIGHT BE A GREATER RISK; MAY HAVE TO DO MORE LATER #megangreene #bankofengland #ukeconomy #monetarypolicy #inflation #interestrates
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post: *NOVAK: RUSSIA TO DEEPEN VOLUNTARY OIL EXPORT CUTS IN 1Q post: *NOVAK: RUSSIA OIL-EXPORT CUTS IN 1Q 2024 TO REACH 500KB/D post: Russia will deepen its **export** (not production) cut to 500,000 b/d from 300,000 b/d through Q1, to consist of 300,000 b/d in crude cuts and 200,000 b/d in refined product cuts, deputy PM Alexander Novak says in a statement #OOTT #OPEC post: RUSSIA’S DEPUTY PM NOVAK: RUSSIA ARE TO GRADUALLY RETURN FLOWS LATER BASED ON MARKET CONDITIONS.
post: Oman will cut an additional 42k for Q1 2024 #OOTT #Opec
A gauge of pending sales of existing US homes fell to its lowest level on record in October, illustrating a resale market battered by high borrowing costs and prices. The National ...
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- Posted: Nov 30, 2023 11:56am
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 2,487
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