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Big oil s exploration cuts exacerbate supply deficit (SPY -1.2%). Biggest premarket movers: Boeing, AT&T, VF Corp., Starbucks. Here is the current market situation from CNN Money European markets are mixed. The CAC 40 is higher by 0.93%, while the DAX is leading the FTSE 100 lower. They are down 1.83% and 1.33% respectively. What Is Moving the Markets Here are the headlines moving the markets. Big Oil s Exploration Cuts Exacerbate Supply Deficit The idea that crude oil could ever again hit three-digit price levels may sound ridiculous at a time when slack demand amid a pandemic has oil stuck in the $50s. Yet one thing any market is not is static, and many expect vaccines to boost demand before this years end. In fact, some are warning about a looming oil deficit. And Big Oil is slashing exploration activities. Reuters reported this week, citing data from Rystad Energy, that new onshore and offshore lease acquisitions by the worlds top five oil companies fell to the lowest

United statesRosalind brewerMike romanStefano pessinaPankaj pandeyTilman fertittaElon muskRoz brewerKlaas knotAshish jhaBoris johnsonInternational monetary fundCentral bankAmerican petroleum instituteHedge fund forced liquidation fears futures tumbleSees oil prices