Jump to content

Crude Oil Forecast: Brent in Limbo as OPEC Meeting Draws Near


MongiIG

Recommended Posts

BRENT CRUDE OIL (LCOC1) TALKING POINTS

  • Demand-side factors continue to dominate.
  • Will OPEC trim supply again?

Crude Oil Forecast: Brent in Limbo as OPEC Meeting Draws Near

BRENT CRUDE OIL FUNDAMENTAL BACKDROP

Brent crude oil rallied yesterday on the back of a weaker U.S. dollar coupled with a notable decrease in U.S. crude oil stockpiles as revealed in the EIA weekly report. This morning has seen a resumption of the downward trend as the dollar is bid once more, making yesterday’s move largely attributed to oversold levels as well as quarter-end rebalancing. Markets are still focused on demand destruction and a global recession as opposed to supply-side concerns.

Full article: Sep 29, 2022 | DailyFX
Warren Venketas, Analyst

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...