Brent back above $50/b

摘要

The physical crude benchmark Dated Brent broke back above $50/barrel in March, for the first time since November 27. The price gained support from OPEC's progress in moving towards its output targets and its commitment March 15 at its meeting in Vienna to pursue its targets more rigorously. OPEC-11 production fell 820,000 b/d in February from January, leaving the members governed by targets 875,000 b/d above their stated goal of 24.845 million b/d, according to Platts.