That's the view from RBC on the oil price drop.
Global head of commodity strategy at RBC Capital Markets spoke with CNBC on Thursday:
- “I think OPEC is a different OPEC than in 2015. ... I would anticipate, if we continue to see selling pressure over the next few days, if this looks like it is going to be a sharp sell-off potentially plunging into the 70s, I think we’ll at least start to hear very clear statements from OPEC about potentially coming back in,”
- “I think that this market remains stronger than this selling action would have us believe at the moment”
Brent update:
![brent chart 06 October 2023](https://images.forexlive.com/images/brent%20chart%2006%20October%202023_id_7c5a7127-824f-4b13-8ee7-7a8894ff1713_size900.jpg)