Pre-Trading Thoughts

*Key news articles for today* IMF is optimistic about Egypt’s privatization program. OPEC+ doesn’t plan to up production to cover the 500k-barrel-per-day production cut Moscow is implementing in retaliation for Western sanctions. LNG production in 2023 is expected to stay flat at around 7.5 million tons, in line with 2022. Oil Minister added that maximum capacity for LNG exports could reach 12 million tons per annum by 2025. We upgrade our FV for JUFO to EGP14.00/share. The upgrade is ...