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OPEC not discussing suspension of increase in oil production

Breakage report

Reuters reports, citing 3 OPEC + sources, that OPEC + is not discussing the suspension of increases in oil production after the SPR release.

Earlier today, we heard from WSJ sources who said officials in Saudi Arabia and Russia were discussing a hiatus, but now we’re hearing that.

Expect more of that as we approach next week’s OPEC meeting. The market seems to be taking this in stride, with little reaction in the rough.

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