Oil has jumped higher on the reopen of futures trade on Sunday evening in the US.
The talk is of a 1mn barrel OPEC+ cut at the meeting this week, Wednesday the 5th.
This is not fresh talk really, but as we have gotten closer to the cartel's meeting the chatter has intensified and become more concrete.
Earlier posts, from last week re this.
more to come
- RBC is forecasting the October 5 OPEC+ meeting may slash output by up to 1 mn bbl/day
- Russia will likely propose OPEC+ reduce output by 1 million bpd at the next meeting
- OPEC+ talks said to narrow range of potential oil output cut to 0.5 to 1.0 mil bpd
- OPEC+ oil output cut very much needed to support prices - UBS
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