How Middle East Producers Are Pricing Their Oil ...Middle East

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It is unlikely that the bullish sentiment currently driving oil markets can be sustained over a prolonged period, but Middle Eastern producers are determined to make the most over higher prices while they last. On the back of ballistic missile attacks on Saudi infrastructure and OPEC+ quota roll-overs, the global benchmark Brent surpassed the key threshold of $70 per barrel for the first time in more than a year. Concurrently, backwardation steepened even further, with a solid $7 USD difference between April 2021-April 2022 contracts. Against such…

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Last updated : 13 March 2021 clock 02:00 AM

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How Middle East Producers Are Pricing Their Oil ...Middle East

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