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Oil slides as production returns

Oil prices fell sharply today on the news that Saudi oil production will be back in full by the end of the month. Phil Dobbie asks NAB’s Gavin Friend whether we’ll see oil return to previous highs or has the incident created a risk premium. They also discuss US industrial production numbers and the German ZEW survey, as well as the NY Fed’s first overnight repo agreement for 10 years, as funding rates rose as high as 10%.  Plus, a preview of tomorrow’s Fed policy decision and the minutes from the RBA yesterday, a little more dovish than expected.

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