01 Dec, 23

Oil Markets Unimpressed By OPEC+ Cuts

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Markets Oil markets balked at the OPEC+ news this week that saw the organization extend cuts from Saudi Arabia and Russia and deepen the group’s overall cuts with other member states beginning in the first quarter of next year. The distinction–and likely a large factor in sending prices downward on Thursday–is the fact that the additional cuts (those beyond Russia and Saudi Arabia’s rollover cuts) are voluntary cuts. On one hand, this could be seen as a large win for Saudi Arabia, which has been shouldering much of the market…

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