CRUDE
OIL
It
seems that energy speculators
are more positive than most that the June 2nd meeting will bear fruit after the failure of the April 20th meeting.
Now that the Saudi’s have introduced their
Vision2030 economic plan, there is a growing possibility that they might begin
to cut production.
Saudi
Arabia's sale of a spot crude cargo to an independent Chinese refiner marks a
new phase in the turf war for dominance over Asia's oil
market
and sends a strong message
to its rivals Russia and Iran: the fight for market share is on.
Brent received extra support from news
that Saudi Arabia and Kuwait appear no closer to restarting their jointly
operated Khafji oilfield, which
produced
280,000 to 300,000 barrels per day before environmental problems forced a
closure in October 2014.
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TODAYS PROFIT SUMMARY: HNI FUT RELIANCE INFRA 20800
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