The price of oil can easily move higher in the near term without a deal between between OPEC and its oil-producing allies,Goldman Sachs’ commodities chief Jeffrey Currie told CNBC on Tuesday.
Talks between the energy alliance have beenpostponed indefinitelyafter a plan for production for August and beyond was unable to be reached over a series of meetings in recent days.
The lack of an agreement, as it relates to the price of oil, is “bullish any way you slice it,” Currie said in an interview Currie on“The Exchange.”
“Our base case is $80 a barrel in third quarter and the longer this takes [with OPEC], the more risk you get to the upside,” said Currie, who serves as the investment bank’s global head of commodities research. “We could see prices spiking into the $85-$90 a barrel range during these summer months pretty easy.”
yaya politic and covid issues getting serious!! Will drag longer time to be recovered until lot companies bankruptcy.. Even oil price very high but also no use for those non biz oil companies!! Anytime once time free fall if no mistaken!!
Energy sector is essential hence never stop operating, beside that Sabah, Sarawak, perak reopen partially...maybe increase another 100 million covid related cost...haha
just read about the article on anuar taib and sapura. huge challenges ahead in the company, but looks like he is doing a great job in tackling the debt issue. with brent trending upwards nowadays I think he can bring the company to a new height not a calang calang guy from petronas
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ruhaizat69
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Posted by ruhaizat69 > 2021-07-07 09:25 | Report Abuse
Oil up, stagnant or drop doesn’t consern sapura