Energy Market Preview

Discussion in 'Trading' started by TradeTheNews, Mar 12, 2007.

  1. TradeTheNews

    TradeTheNews ET Sponsor

    Energy Market Preview by Trade the News Staff

    - OPEC ministers meet this week on Thursday to discuss output policy. Qatar’s oil minister said today that OPEC’s compliance with output cuts is very good. Additionally, he said that there’s no need to do anything if prices remain as they are.
    - Saudi Aramco will cut crude oil supplies to Asian and European refiners in April, with Asian buyers getting an average 9% less than contracted volumes. The reduction is due to Saudi’s compliance with OPEC’s production quotas.
    - On the weather front, Accuweather wrote on its website today that most of the nation will see temperatures warm early this week.
    - At 8:10 a.m. crude oil futures are down $0.79 at $59.26.