Russia’s Novak: Oil output can be increased in case of oil deficit on market

Russian Energy Minister Alexander Novak recently crossed the wires saying that the oil output could be increased in case of oil deficit on the market.

Key quotes (via Reuters)

Sees balanced level of oil prices at $70-80/bbl.
No one interested in high oil prices.
OPEC+ countries have capacity to increase oil output to 100% this year.
Russia can increase oil output, but won't necessarily do it.

Sep 26, 2018

US: New home sales increase to 629K in August from 608K in July

"Sales of new single-family houses in August 2018 were at a seasonally adjusted annual rate of 629,000," the U.S. Census Bureau and the Department of

USD/CAD clings to gains around 1.2960, Fed eyed

USD/CAD is prolonging the rangebound trade around the 1.2960 region after finding some decent support in the 1.2880 area at the beginning of the week.