- Analytics
- News and Tools
- Market News
- Oil: Unlikely double-digit cut – TDS
Oil: Unlikely double-digit cut – TDS
FXStreet reports that strategists at TD Securities apprise that the energy market continues to be whipsawed by potential production cut expectations.
“The OPEC+ meeting is still set to go ahead tomorrow, with the cartel's analysis indicating demand is set to contract 11.9m bpd in Q2. As such, some delegates have stated a 10m bpd cut is on the table, but they also state no cuts is also a possibility, keeping the range of outcomes very wide.”
“G20 energy ministers are set to meet on Friday to discuss market stability, and the Texas RRC will meet on April 14th. While all of this does offer some optimism that a cut can be done, it remains unlikely that OPEC+ will cut double digits on their own and without commitments from other key producers such as the US.”
“With front-month contangos over $5/bbl for WTI, and not much better for Brent, the prospect of rolling long positions becomes extremely expensive and is likely to provide another bearish lean as investment demand and bottom picking flows could very well decrease.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
