Marketview: Storms Brewing

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The oil market appears to have shrugged off the already mild price impacts of Saudi Arabia’s 1 million barrel per day cut and Opec-plus extension of previously announced cuts through next year. The muffled price reaction could be an indication that balances are considerably looser than anticipated, and that wobbly demand alongside surging non-Opec supply is enough to offset the bloc’s moves. But what Opec could not do to crude supply and prices, the weather might.

Oil Products, Refining
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