Brent Won’t Rally to $70 a Barrel, Global Risk Management Says - Bloomberg:
"Michael Poulsen, senior oil risk manager at Global Risk Management, says U.S. shale producers have demonstrated self-control over the past year, with more concern for revenue rather than just output, although he doesn’t expect breakevens to fall much further. He also said even if the market hits $60 a barrel, it won’t spark a rally to $70. Poulsen was interviewed on Oct. 24. Comments have been edited and condensed. What will it take for oil to shift out of this range? If we are talking the $55-$60 a barrel range, then we will probably need some sort of geopolitical trigger for the upside. For the downside, it’s a little bit more tricky. It would have to be a failed OPEC agreement in November or demand dropping. "
'via Blog this'
No comments:
Post a Comment