17 Dec 2014
Brent crude oil dipped below the USD60/bbl mark – Danske
FXStreet (Barcelona) - The Danske Bank Research Team shares that Brent crude oil dipped below USD60/bbl yesterday as the war between OPEC and non-OPEC producers intensifies.
Key Quotes
“The price on Brent crude oil dipped below the USD60/bbl mark yesterday as the price war between OPEC and non-OPEC producers continues to be the dominant market theme.”
“Russian Energy Minister Alexandr Novak said yesterday that Russia does not plan to cut production next year, amid weak demand and tumbling prices. The Kuwait oil minister furthermore dismissed an OPEC emergency meeting before the June regular session.”
“The continued slide in the oil price triggered significant intra-day movements in both the NOK and the RUB yesterday.”
Key Quotes
“The price on Brent crude oil dipped below the USD60/bbl mark yesterday as the price war between OPEC and non-OPEC producers continues to be the dominant market theme.”
“Russian Energy Minister Alexandr Novak said yesterday that Russia does not plan to cut production next year, amid weak demand and tumbling prices. The Kuwait oil minister furthermore dismissed an OPEC emergency meeting before the June regular session.”
“The continued slide in the oil price triggered significant intra-day movements in both the NOK and the RUB yesterday.”