Despite the firm and unequivocal show of unity and solidarity, the weekend’s decision from the OPEC+ producer group to extend the current production levels throughout the first half of 2024 failed to inspire buyers and...
There had to be something of reckoning at some stage, either the crude contracts would have to give up some of their backwardations, or flat price would have to pull its socks up and join in.
Although this note predominantly intends to round up events and developments surrounding the oil market, in today’s interconnected environment sometimes macroeconomic headlines take over.
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