Oil's rally to end now or further to go?

Author: Giles Coghlan | Category: News

OPEC extend cuts

OPEC extend cuts
Oil's rally had a possible last hurrah after production cuts were agreed for a further month by OPEC+. The new deal is to cut 9.6m b/d instead of easing to 7.7m b/d as planned prior to this extension. 

 Risk for more upside

Risk for downside

  • US shale production to return and over supply will push prices down

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