Key Insights
- OPEC+ will keep its production cuts in place until Brent oil settles in the $90.00 – $100.00 range.
- Most likely, Fed will not be able to raise rates this year, which will be bullish for oil markets.
- China’s stimulus measures should boost demand for oil.
The pullback in the oil markets turned out to be short-lived, and oil prices have recently touched new highs. WTI oil managed to climb above the $85.00 level, while Brent oil moved towards the psychologically important $90.00 level. It looks that traders have shrugged off recession risks and forgot about problems of China’s economy. What’s going on?
OPEC+ Wants To Push Prices Higher
OPEC+…
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