Opec stunned the market overnight with a deal to cut oil production by an approximate 700000 b/d. Iran is celebrating as it earns an exemption but any move above $50/barrel for Brent is likely to unleash pent-up US shale oil onto the market.
from Ole Hansen - Authored content https://www.tradingfloor.com/posts/morning-markets-iran-calls-saudi-bluff-on-oil-8098201?utm_medium=tf4-feed&utm_source=extract
Morning Markets: Iran calls Saudi bluff on oil
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