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Iraqi Oil Minister: In contact with OPEC+ members to discuss ways to stop oil price collapse

"Flooding oil markets is not in the best interest of producing countries and harms their economies," Iraq's Oil Minister said on Tuesday and added that they were in contact with other members of the OPEC+ to discuss ways to stop oil prices from collapsing further.

"Any oil price war to acquire bigger market share doesn't serve producing countries," the minister added.

WTI reaction

Crude oil hasn't reacted to these remarks and the barrel of West Texas Intermediate was last seen trading at $34.12, adding 13% on a daily basis.

USD/JPY faces further weakness near-term – UOB

USD/JPY could still slip further back and re-test the 100.00 area in the next weeks, in opinion of FX Strategists at UOB Group. Key Quotes 24-hour vie
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Brazil Industrial Output (YoY) above expectations (-1%) in January: Actual (-0.9%)

Brazil Industrial Output (YoY) above expectations (-1%) in January: Actual (-0.9%)
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