Commodity Trade Mantra

Posts Tagged ‘American Oil Inventories’

Can An OPEC Production Cut Extension Push Oil Prices To $60?

Barring another bout of “geopolitical risk,” it seems only significant changes in oil fundamentals will deliver the boost OPEC needs. If OPEC succeeds in lengthening, or even deepening cuts & pulls Russia on board, there’s a chance that the IEA & Goldman’s prediction of a stabilizing oil market & a closer balance between supply & demand by the late-summer 2017 could come true.

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