SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  For example, here is how to disable FireFox ad content blocking while on Silicon Investor.
Gold/Mining/Energy : Big Dog's Boom Boom Room

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Black Blade who wrote (199607)8/30/2019 9:35:34 PM
From: E_K_S1 Recommendation

Recommended By
Black Blade

  Read Replies (1) of 199704
 
First time I saw this headline

Oil prices plunge as Russia overproduced in August
August 30, 2019

Crude oil futures tumble following reports that Russian Energy Minister Novak said Russia's oil production cuts this month will come in slightly below those agreed under the deal between OPEC and non-OPEC producers; WTI -3.7% to $54.63/bbl, Brent -1.2% to $60.32/bbl.

Novak also reportedly said the countries in the deal would discuss the agreement and the market situation at OPEC's Joint Ministerial Monitoring Committee meeting on Sept. 12.

But with Russia "faltering," it is possible the production deal "may not be taken for granted," says Price Futures analyst Phil Flynn, while noting Russia "over-complied" in July.

Earlier this week, the Monitoring Committee, which monitors compliance with the cuts, pegged overall conformity at 159% in July.

The front-month WTI contract still looks headed for a weekly gain after a large drop in U.S. inventories and cautious optimism on trade.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext