Analysis-Peak OPEC? Climate-focused production shift to pile pressure on pact channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.
ANALYSIS-Peak OPEC? Climate-focused production shift to pile pressure on pact oilandgas360.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oilandgas360.com Daily Mail and Mail on Sunday newspapers.
Crude Oil Price Forecast: Rally Back on Track After Bear Trap
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Crude Oil Outlook:
Crude oil prices took a dive earlier this week, but price action suggests that the bearish impulse is in the rearview mirror.
The OPEC+ announcement seems to have been digested by markets, which are refocusing on the reality of the supply-demand imbalance likely to persist.
Bears Be Warned
While US equity markets have been climbing their own wall of worry, so too have crude oil prices: the delta variant; the OPEC+ announcement to increase supply; and the surprise climb in US oil inventories.
With respect to the three points above, you can read more about the delta variant and its implication for financial markets here.
Crude Oil Price Forecast: A Slow and Steady Grind Higher, but Red Flag Appears dailyfx.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyfx.com Daily Mail and Mail on Sunday newspapers.