What Citigroup, Goldman Sachs, UBS Say About Oil After OPEC+ Move - Bloomberg
OPEC+ stuck to its guns and maintained its modest output boost for December as the alliance shunned calls from key consumers to pump more. President Joe Biden has been a vocal advocate of a larger supply increase and the decision from the group prompted the U.S. to say it would consider a wide range of tools to deal with prices. Brent rose Friday after sinking this week.
Here’s what some analysts had to say about the oil market after OPEC+ agreed to increase production by 400,000 barrels a day next month:
Citigroup
OPEC+ said last week that “demand was going to be very slow in growing, we’ve got the pandemic ahead of us,” Ed Morse, the global head of commodities research at Citigroup Inc., said in a Bloomberg television interview. “Actually, the reverse is probably more true. We’re seeing an uptick in demand.”
No comments:
Post a Comment