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Oil Price Jumps on OPEC Production Cut

Oil prices jumped this morning after OPEC+ announced yesterday they would cut production by more than 1 million barrels per day starting next month. From July, there will be about 1.6 million barrels less supply also due to the extension of Russia's existing supply reduction. As a response, Brent price briefly visited USD 86/bbl level this morning before retreating to just below USD 84/bbl. Just as markets were rejoicing at the lower headline inflation pressures on Friday, higher oil prices...
Saudi Arabia Core Services Friday Dow Itraxx Main Itraxx Crossover

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