- Oil is trading modestly lower but heading for a second weekly gain
- The market continues to await a potential Israeli attack on Iran, possibly targeting oil infrastructure, and news of any new stimulus packages from China
- Iraq and Libya declines lead OPEC output drop in September (S&P)
- OPEC+ crude oil production decreased by 500 MBbl/d to 40.23 MMBbl/d in September, primarily due to Libya and Iraq reducing their outputs
- Despite this drop, OPEC+ total overproduction in September was 232 MBbl/d above the collective target
- Iran seeks higher prices for its crude exports to China
- Iran is demanding higher prices for its crude oil from China's independent refiners amidst geopolitical tensions in the Middle East, seeking a $1 per barrel increase compared to previous months
- Iran typically sells nearly all of its sanctioned crude to China for a discount to Brent
 |
|
|
|
|
 |
Looking for interest rate charts? We moved them here |
