Oil markets are going
to stabilize this year, according to OPEC’s Secretary General. Speaking in Venezuela, Mohammed Barkindo also voiced optimism that OPEC economies will improve as a result of last year’s producer agreement. It comes after Saudi Arabia said the Kingdom is committed to cutting its output and is prepared to extend the supply deal if necessary.
In Asia, Japan -1.5%. Hong Kong +0.5%. China +0.2%. India -0.2%.
In Europe, at midday, London -0.4%. Paris -0.7%. Frankfurt -0.9%.
Futures at 6:20, Dow -0.5%. S&P -0.6%. Nasdaq -0.6%. Crude +1.3% to $53.07. Gold +1.8% to $1217.10.
Ten-year Treasury Yield -5 bps to 2.32%