Rapeseed: OPEC negotiates production limits for crude oil

December 5, 2019 at 2:45 PM , Der AUDITOR
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HAMBURG. The rapeseed and canola market has caught up with the trade, which was caused by US crude oil inventories having declined surprisingly. However, Canada is heading towards a canola harvest of 20 million metric tonnes.

In western Europe, rapeseed prices increased again after former price losses. According to trade, this was due to speculations regarding the forthcoming OPEC decisions on possible restrictions on crude oil production, as well as announcements of an approach between Washington and Beijing. US crude oil inventories surprisingly declined by 4.9 million barrels to 447.1 million barrels. The US oil production, which was booming at an all-time record level, was reported at an unchanged 12.9 million barrels.
In France, rapeseed increased to EUR 400 per metric tonne FOB Mo

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