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Msg  3223 of 3285  at  8/31/2023 8:02:23 AM  by

shiftsuper175607


Oil Prices Could Reach $90 if Saudis Extend Production Cuts


Updated Aug. 31, 2023 6:06 am 

1001 GMT – Brent crude oil could move closer to $90 a barrel if Saudi Arabia rolls over its production cuts for another month, according to

. The Saudis are expected within days to announce their intentions for October production. The one million barrel-a-day production cut has been in force for the last two months and Riyadh has already said it will extend it into September. Its cuts have thus far been taken in concert with Russia, the other leading member of OPEC+ and an extension into October “would likely be accompanied by some oil export cut commitment by Russia,” says CBA. Collectively, that would push Brent prices closer to $90 a barrel, the bank says in a note. (william.horner@wsj.com)

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Msg # Subject Author Recs Date Posted
3224 Re: Oil Prices Could Reach $90 if Saudis Extend Production Cuts in4long-haul 0 9/5/2023 9:22:25 AM




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