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US president-elect Donald Trump will ascend to the oval office Friday heralding what is likely to be the most remarkable US administration in history. Dollar could go either way as the maverick-cum-politician gets his hands on the wheel at last.
Squawk / 02 June 2016 at 8:13 GMT
Head of Commodity Strategy / Saxo Bank
Denmark
The open session of the 169th Opec meeting has kicked of in Vienna. Soundbites appearing from all the major players, not least the new Saudi energy minister who has been saying the following (from Reuters):
EVERYONE WITH ONE VOICE IS SATISFIED WITH MARKET
MARKET REBALANCING
PRICES WILL RESPOND ACCORDING TO REBALANCING
MARKET DOING QUITE WELL
WE WILL NOT SHOCK MARKET
WANTS LONG-TERM MARKET STABILITY
IN LONG TERM WE WANT TO ENCOURAGE INVESTMENT
WE ARE CONCERNED WITH LOW PRICES
NO ONE CAN DETERMINE EQUILIBRIUM PRICE
WE THINK WE ARE ON THE WAY UP
WOULD NOT CALL IT A MARKET-SHARE STRATEGY
ROLE OF OPEC IS TO LEAVE MARKET TO WHAT IT HAS TO DO
WILL LISTEN TO WHAT IRAN BRINGS TO TABLE TODAY
WE SUPPORT WHAT OPEC NEEDS TO DO TO BALANCE MARKET IN GENTLE WAY
ALL OPTIONS ARE ON TABLE

The Iranian oil minister meanwhile has said that an output ceiling without quotas means nothing.

Kuwaitis saying oil at $50-$60 is appropriate

Today's agenda in Vienna attached

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