Thursday 18, May 2017 by William Mullally

Lukewarm reaction to OPEC supply cut extension

Saudi Arabia and Russia pledged to extend the supply deal but the lukewarm oil price response shows that scepticism prevails. We see oil prices trading between USD 45 and USD 50 per barrel. The persistent supply glut and reviving shale boom question the Middle East supply deal’s effectiveness, writes Norbert Rücker, Head Macro & Commodity Research, Julius Baer

Features & Analyses