MNI Oil Weekly: Russia Sanctions Met with Scepticism

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Executive Summary:

• Following U.S. sanctions on Russian oil companies, the market is waiting to see evidence of enforcement
• Oil Markets: Crude prices have eased back from highs last week as the market weighs expectation of a modest output rise expected at Sunday’s OPEC decision, uncertainty over the impact of the latest sanctions against Russia and US/China trade optimism. Diesel cracks are supported by US sanctions, disruption at Kuwait’s Al-Zour refinery and escalating Ukrainian threats of attacks against Russian refineries.
• Analyst Views: See oil market outlooks and view from key industry analysts.