OPEC drip feeds more oil
Monday 19th July 2021OPEC reached a deal of sorts over the weekend which will see supplies increase incrementally over the next few months. NAB’s Rodrigo Catril said markets had been expecting a deal of this magnitude, so it has done little (so far) to oil prices. Meanwhile, COVID caution continues to rein over the markets, with a stronger US dollar and a weaker Aussie. US retail numbers were strong on Friday, but we discuss Google data which suggests store visits are plateauing below pre-COVID levels in most parts of the world. New Zealand’s strong inflation numbers at the end of last week…
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