Russia Cuts Seaborne Crude Flows to Three-Month Low Before OPEC+
Russia cut back its seaborne crude exports to the lowest since August before a meeting of OPEC+ oil minsters this weekend when compliance with production cuts will be in sharp focus. The move came after shipments surged in October. About 2.7 million barrels a day of crude was shipped from Russian ports in the week to Nov. 19, tanker-tracking data monitored by Bloomberg show. That was down by 580,000 barrels a day from the revised figure for the period to Nov. 12, the biggest week-on-week drop in more than four months. Moscow said in early August that it would prolong export restrictions at a reduced rate of 300,000 ... (full story)
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tweet: ECB'S SIMKUS: MARKET EXPECTATIONS ON ECB RATE CUTS ARE TOO OPTIMISTIC.
tweet: BOE GOV. BAILEY: THE LATEST DECLINE IN INFLATION WAS GOOD NEWS. NEWS ON INFLATION WAS LARGELY AS WE EXPECTED. tweet: BOE GOV. BAILEY: FURTHER DECLINE IN FOOD INFLATION WILL COME IN 1Q. WE WILL THEN LOOK TO SEE SECOND ROUND EFFECTS UNWIND. tweet: BOE GOV. BAILEY: INFLATION WILL END YEAR A LITTLE LOWER THAN WE EXPECTED, BUT NOT BY MUCH. tweet: BOE GOV. BAILEY: WE'VE SEEN SOME WEAKENING ON THE QUANTITY SIDE OF LABOUR MARKET. tweet: BOE GOV. BAILEY: THERE ARE SOME SIGNS THAT WAGE GROWTH IS COMING OFF, BUT WELL ABOVE THE INFLATION TARGET AT A CONSISTENT LEVEL.
The jury is in on what ails China’s economy. It was only a matter of time. And the obvious solution – we are told – will be politically treacherous. The verdict is unanimous. ...
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tweet: BOE GOV. BAILEY: WE HAVE SEEN A WEAKENING IN DEMAND BUT ALSO A WEAKENING ON THE SUPPLY SIDE. tweet: BOE GOV. BAILEY: WE SEEING SOME INDICATIONS OF PICK UP IN ARREARS BUT FROM A LOW LEVEL.
Natural gas continues to trend lower inside its falling channel on the hourly time frame and is still hovering just above support. A pullback to nearby resistance levels could ...
Today's CPI report from Canada is the last last the Bank of Canada's next decision on December 6th. Consensus medians can be seen in the screenshot below while ranges for the ...