Daily LNG price update (India loves USA)

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The Brent oil price eased a little last night as we approach the OPEC meeting. Going in, Saudi appears relaxed, from Reuters:

Saudi Arabia’s oil minister Ali al-Naimi said on Monday he expects oil demand to pick up in the second half of 2015 while supply decreases, in a sign that the Saudi strategy of defending market share through lower oil prices was working.

He said it would take time for the oil markets – still heavily oversupplied – to rebalance, and added he was not concerned by prospects of a possible increase in Iraqi or Iranian supplies later in the year.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.