ANZ on oil - prices higher in H2 2019 on supply disruption risk

Author: Eamonn Sheridan | Category: News

A snippet from the latest from ANZ on oil, in brief:

  • OPEC+ is sticking with its production cuts deal
  • production is falling in Iran and Venezuela and risk of supply disruptions is rising in the Middle East
  • Together these should see the oil market balance tightening in H2 2019.  
  • US shale companies have been pulling back on drilling, could limit growth in output from shale in near term.
  • Slowing global economic growth will still see demand growing more than 1mb/d. 
  • We believe the market's focus will soon shift from a focus on softer demand to looking at supply disruption risks. This should see prices back above USD70/bbl in H2 2019.

A snippet from the latest from ANZ on oil, in brief:

ForexLive
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