[Tokyo 10th Reuters]-Crude oil futures in Asia time continue to grow. The view that the coordinated production cuts between the Organization of Petroleum Exporting Countries (OPEC) and non-member oil-producing countries such as Russia will continue is supportive.
As of 0104 GMT (10:04 am Japan time), North Sea Brent futures are $ 0.42 (0.7%) higher per barrel = $ 63.01.
US WTI Crude Oil Futures <CLc1> is $ 58.31, an increase of $ 0.46 (0.8%).
Prince Abdul Aziz Bin Salman, who was appointed Saudi Energy Minister, said on September 9 that there was no change in the country's oil policy pillars and that the OPEC-led reduction in production agreement would continue. He also indicated that OPEC Plus, which includes OPEC plus non-member oil-producing countries such as Russia, will continue for a long time.
Axis trader Asia-Pacific market strategist Steven Ines pointed out that the OPEC Plus Joint Ministerial Oversight Committee (JMMC) in Abu Dhabi this week is “observing increased production cuts”.
