Russia FX/Rates Snapshot - December 5, 2019
Today, all eyes will be on the JMMC's recommendation to the wider OPEC+ group and the resulting headlines from the OPEC meeting. Brent could be highly volatile amid the expected flurry of headlines and official comments from Vienna. We do not expect full clarity on the 2020 production cut deal until the OPEC+ summit tomorrow. Our oil commodity strategist expects no immediate additional output cuts, but rather only the extension of the existing deal for the whole of next year and prospects of deeper cuts only if all OPEC members can achieve full compliance with the current deal. This would likely disappoint markets, and the oil price could head below $60/bbl. Against this backdrop, the ruble would likely climb back above 64.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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