Reports that OPEC+ has kicked the can on its plans to return unwanted barrels back to markets by three months will keep crude oil prices from falling further in the imminent term, but the drag from energy supply risk premia will persist nonetheless, TDS’ Senior Commodity Strategist Daniel Ghali notes.
Reports that OPEC + has kicked the can on its plans to return unwanted barrels back to markets by three months will keepcrude oilprices from falling further in the imminent term, but the drag from energy supply risk premia will persist nonetheless, TDS’ Senior Commodity Strategist Daniel Ghali notes.
” “Resurgent geopolitical risks are key to supply-side tailwinds, which adds focus on a potential return of President-elect Trump's 'maximum pressure' policy on Iranian crude exports, and on geopolitical risks in the Middle East which remain at their highest levels since at least the Gulf War.
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