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Tuesday, 27 December 2016

Brent curve signals oil tanks will start emptying in second half of 2017: Kemp | Reuters

Brent curve signals oil tanks will start emptying in second half of 2017: Kemp | Reuters:
"OPEC and non-OPEC oil producers have agreed to reduce their combined output by more than 1.7 million barrels per day for six months from January 2017.

But the agreement contains a provision that it can be extended for a further six months, subject to market conditions.

Oil traders are betting on an extension, with most of the rebalancing of the oil market expected to occur in the second half of 2017."

'via Blog this'