Commodity Trade Mantra

Posts Tagged ‘Russia and Saudi Arabia’

Oil Jumps After Latest Output Freeze Meeting "News"

Oil producers including Gulf OPEC members support holding a meeting next month to discuss a deal to freeze output even without Iran. Given Iran’s determination to add an additional 1 million b/d of supply to an already glutted oil market, it’s still difficult to understand how “let’s freeze things at a record rate” is a viable way to permanently alleviate downside pressure.

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