Saxo Bank

Oil & Gas

Oil looking for bottom, but expect it to stabilise in $60-70 range

13/12/2018

The Opec+ deal to curb production to the tune of 1.2m b/d over the coming months has helped stabilise and potentially create a floor in crude oil. However, while the supply outlook has steadied and created some support this week, the market remains worried about the ongoing trade war between the US and China and its potential negative impact on growth and demand into 2019.

Breaking