Oil – ANZ pencil in a 3-month OPEC+ delay of output increase

November 13, 2020 by admin 0 Comments

Comments via ANZ commodity research/analysis (in brief from a much longer report):

A COVID-19 vaccine could draw a line in the sand for the oil market.
However, there are major hurdles to overcome before it can assume the worst is over.
Weak demand will see a 2mb/d surplus in H1-21.
This should see OPEC delay output increases by 3mth

ANZ picture the movement cliff:

This article was originally published by Forexlive.com. Read the original article here.