They maintain a structurally bearish view of crude oil prices despite potential short-term upward pressure.
While acknowledging geopolitical risks and potential for a hot summer boosting demand, Macquarie identifies several negative drivers. They express concern about OPEC+ compliance with production quotas, particularly in the context of US election year dynamics. Additionally, they foresee continued growth in non-OPEC oil production, including from the United States, potentially dampening prices.
Overall, Macquarie's analysis suggests a cautious approach to the possibility of a summer oil rally. They believe structural factors could lead to a price correction despite potential short-term upward pressure.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Investingcom - 🏆 450. / 53 Read more »