The rise of the shale drillers threatens the oil outlook, not help by the fact that the OPEC output cut agree

GBL: Crude Slippages

Global Markets Daily by Saktiandi Supaat

FX Research

The rise of the shale drillers threatens the oil outlook, not help by the fact that the OPEC output cut agreement that is already looking shaky. In addition, Russia is undecided on whether to extend its agreement on the production curbs into the second half of this year. WTI slumped 4.3% overnight and was last seen around USD45.50/bbl. Brent also recorded a 4.5% slide. USDCAD touched a high of 1.3775 overnight. Other commodity-related currencies also weakened with AUDUSD, testing...