UBS Wealth management executive director, commodities and FX, Wayne Gordon has weighed in on the oil price upturn after Brent topped $60 for the first time in two years on Friday.
Mr Gordon said UBS had been bullish on prices for a long time, and that it had “turned sideways” on oil over the weekend.
He said geopolitical risk had played a part in the price upturn, but said production discipline from Opec and the slowing growth of shale were the biggest factors.
Recommended for you
Read the latest opinion pieces from our Energy Voice columnists
- Opinion: EY’s Derek Leith on what to expect from the Budget
- Opinion: Carbon capture and storage – put the kettle on
- Opinion: Ensuring effective digital platforms in the energy sector
- Opinion: ‘We woke up to a very new climate reality when Donald Trump won the election’
- Opinion: The digital revolution is here, and oil and gas needs to catch up