OPEC+ JMMC recommends cutting output by 100k bpd as OPEC+ meeting starts - report

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OPEC+ JMMC recommends cutting output by 100k bpd as OPEC+ meeting starts - report

<p>Once OPEC+ countries got a taste of that $100 oil they liked it.</p><p>This 100k bpd cut is a token move in a 100mbpd global market but it's an important signal that OPEC+ won't tolerate falling prices. It also reverses the 100k bpd cut from last month.</p><p>In any case, OPEC is missing its output targets by a wide margin.</p><p>WTI is up $3 to the highs of the day.</p>

This article was written by Adam Button at www.forexlive.com.

Source: OPEC+ JMMC recommends cutting output by 100k bpd as OPEC+ meeting starts - report

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