• Uncategorised

Oil prices have limited upside


Too much, too soon. The 36% increase in crude oil prices since August is likely to stimulate a strong production response, with a typical lag, sufficient to keep oil inventories elevated above the five-year average for all of 2018, despite the extension of OPEC’s production cut to the end of the year. It may even undermine OPEC compliance and negatively impact oil demand.

You may also like...

Read previous post:
New Year, New Fed, New Challenges

A reconstituted Federal Reserve under new leadership will face tough challenges in the year ahead. Monetary normalization is well underway,...