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The Commodities Feed: US inflation data in focus
Crude oil prices have been trading flat this morning after recovering back to $86.75/bbl yesterday amid ongoing supply concerns. The Joint Ministerial Monitoring Committee of OPEC+ will be meeting next week, and the committee is unlikely to recommend any changes to the current production cuts agreement until the end of second quarter of this year. Meanwhile, uncertainty over Venezuelan supply lingers as the current sanction relief comes to an end in April 2024, and the US is yet to decide on further relief. Media reports suggest that some buyers, including India, have already started cutting oil purchases from the ... (full story)