Saudi Arabia doesn’t yet plan production above its assigned OPEC quota of 10.311mbpd
Saudi King Reportedly Emphasises Drive Towards Ensuring Stability In Oil Markets
Saudi Arabia doesn’t yet plan production above its assigned OPEC quota of 10.311mbpd
Saudi King Reportedly Emphasises Drive Towards Ensuring Stability In Oil Markets
Gold Silver Reports – Global economic growth is slowing, according to the International Monetary Fund, policymakers and hundreds of economists polled by Reuters – but that downturn is coming at a time when central banks’ arsenals are running on empty.
Gold Silver Reports (GSR) – Britain would only be granted an extension to the Article 50 Brexit negotiation period if its parliament passed the deal on the table or if a clear alternative plan emerged by next week’s EU summit, a French official said on Friday.
The U.S. Federal Reserve said minutes of its January policy meeting would be released on Wednesday as scheduled though its offices in Washington would be closed due to bad weather.
Gold Silver Reports (GSR) – Crude Oil prices rose to their highest levels since November last year on Monday, lifted by OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela.
Chinese state media on Saturday expressed cautious optimism over trade talks between the United States and China, a day after President Xi Jinping said a week of discussions had produced “step-by-step” progress.
Gold Silver Reports (GSR) – The ongoing closure of parts of the Keystone pipeline that brings Canadian oil into the United States also helped prop up WTI, traders said.
Gold Silver Reports (GSR) – Some European Central Bank policymakers are reluctant to alter their guidance on interest rates as a move could tie the hands of the bank’s next president many months before an appointment is even made, four sources close to the matter said.
International Brent crude oil futures were up 67 cents, or 1.1 percent, at $62.17 a barrel by 1230 GMT. U.S. West Texas Intermediate (WTI) crude futures rose by 51 cents, or nearly 1 percent, to $53.52.
The dollar held at a near three-week high as investors sought the relative safety of the U.S. currency.