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Oil hits 2023 highs on tight supply outlook
  + stars: | 2023-09-14 | by ( ) www.cnbc.com   time to read: +2 min
The tightening oil balance will remain the dominant price driver for the rest of 2023, he added. Both benchmarks had slipped on Wednesday after a U.S. supply report showing rising crude and refined product stocks. Priyanka Sachdeva, senior market analyst at Phillip Nova, said supply fears are underpinning oil prices as producers "adamantly stick to restricted production". A day before the IEA report, the Organization of the Petroleum Exporting Countries (OPEC) issued updated forecasts of solid demand and also pointed to a 2023 supply deficit if production cuts are maintained. "The oil market looks decidedly tight over the next two to three quarters as supply constraints persist amid robust demand," ANZ Research analysts said.
Persons: Tamas Varga, Brent, Priyanka Sachdeva, Phillip Nova Organizations: Oil, Brent, International Energy Agency, . West Texas, Organization of, Petroleum, ANZ Research, European Central Bank, Reuters, ECB Locations: Cromarty Firth, Invergordon, Scotland, Saudi Arabia, U.S
[1/2] British Prime Minister Rishi Sunak leaves after his visit to Port of Cromarty Firth at Invergordon, Scotland January 13, 2023. REUTERS/Russell Cheyne/PoolJan 13 (Reuters) - British Prime Minister Rishi Sunak is poised to block Scottish laws that make it easier for people to change their gender, The Times reported on Friday. British Prime Minister's office did not immediately respond to a Reuters request for comment. Scotland has always been clear the bill does not impact the Equality Act, a Scottish Government spokesperson said in an emailed statement to Reuters. The British National government had further said that it would examine the bill and could look at blocking it if necessary.
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