Daily oil and LNG price update (Australian LNG saved?)

Sunday 4 December 2016

The Brent oil price continued its march north Friday night to $54.43. Henry hub fell back:

The FT’s Nick Butler has the OPEC take that I agree with:

The agreement to cut production from January by 1.2m barrels a day raised prices on the world market by almost 10 per cent. The net result was a global price for Brent crude, the international benchmark, of $52 a barrel — up a few dollars from the previous day but still down almost 50 per cent from two years ago.

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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.