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Opec Oil markets Iraq
Peter Ramsay
19 June 2020
Follow @PetroleumEcon
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Crude edges higher on Opec+ compliance promises

Traders see the positives as producers commit to even greater respect for quotas

The benchmark Ice Brent front-month contract was trading above $42.50/bl at Friday lunchtime, threatening to record its highest closing price since early March. Better-than-expected compliance with Opec+ production curbs and promises made by quota busters at Thursday’s joint ministerial monitoring committee (JMMC) to mend their ways are the major drivers. The Ice contract closed just above $42/bl on 5 June but slipped back below $40/bl before the current rally kicked in yesterday. Today’s trading has seen the highest price levels since the collapse from $51.50/bl on 5 March to under $33.50/bl just three trading days later on 9 March. Baghdad boost Iraq’s promise to the JMMC—that it will comp

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Iraq’s tangled Ceyhan oil web
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KRG, Iraq’s central government and Turkey are all working to get exports flowing from the key port, but complications remain

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