Saudi supply rose in October – OPEC monthly report

FXStreet (Mumbai) - The OPEC monthly report released today showed Saudi Arabia; the biggest exporter of oil, increased its oil supply by 50K barrel in October.

Key Points

2016 world oil demand forecast unchanged at 1.25mbpd

2016 OPEC crude demand unchanged at 30.82mbpd

Oil surplus will narrow to 560k bpd in 2016 vs 750k seen in Sep

Non-OPEC supply will fall 130k bpd (unch vs Sep) in 2016. Expected non-OPEC oil supply drop will be first since 2007 and will leave a gaping supply hole in the market

Nov 12, 2015

Russia Central Bank Reserves $ dipped from previous $369.2B to $366.1B

Food price in France increases for the second month in a row

The Consumer Price Index (CPI) in France increased by 0.1% in October after having slid to –0.4% in September. Seasonally adjusted, it was also up 0.1%. Consumer prices rose slightly (+0.1%) year-on-year after having stayed stable for two months in a row. Seasonal price increases in fresh foodstuffs and in some services contributed to the rise in CPI in October. The increase in price was however offset by a new decline in energy prices to some extent.