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Oil Slips on Signs Russia Boosted Crude Output Before OPEC Meets
Futures dropped 1.1 percent in New York after a third weekly loss. Russia, which along with Saudi Arabia is trying to garner support for lifting output limits, was said to have boosted production earlier this month to above the level envisioned by OPEC. Meanwhile, the number of rigs drilling for crude in the U.S. inched higher, signaling output may extend a record. Saudi Arabia and Russia, among the countries with spare capacity to raise production, signaled last month they may restore output even though they hadn’t yet consulted most other producers. Oil prices have fallen more than 7 percent since the two nations made their proposal public. Click Read More below for additional information.
EPR, EUDR, PPWR got you thinking?
These acronyms are prevalent in the paper and packaging industry. Wondering how Extended Producer Responsibility, European Union Deforestation Regulation (Europe), or Packaging and Packaging Waste Regulation (Europe) might affect your business? Reach out to your MIDLAND representative and we will connect you with our environmental affairs experts to answer your questions.
