Spot Cargo Markets - Non-Opec Focus

摘要

Oil prices collapsed midweek as the initial Opec euphoria evaporated, but recovered slightly on Thursday amid growing confidence that non-Opec producers would agree to limit production alongside the producer group at a meeting in Vienna this Saturday. International benchmark Brent had hit a six-month high of $55.33 per barrel Monday before traders took profits, knocking the grade back below $53/bbl in Wednesday trade. US price-pin WTI similarly dipped below $50/bbl midweek, with a crude stockbuild at the grade’s Cushing, Oklahoma pricing point also taking its toll. But prices spiked Thursday after former Opec Secretary-General Abdalla el-Badri said a non-Opec production cut of about 600,000 barrels per day was “a must.”