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Weekly Fundamental Crude Oil Price Forecast: Bullish Outlook, For Now

From dailyfx.com

Volatility in global markets is persisting, but for now it’s still translating into a mostly bullish environment for energy prices amid supply chain concerns and an energy supply production deficit (relative to demand). Despite calls for increased oil production from OPEC+, Saudi Arabia – the most significant member of OPEC+ – said that the group was already “increasing production.” OPEC+ will continue to increase oil production by 400,000 barrels per day (bpd) in November and in the following months, noted Saudi energy minister Prince Abdulaziz bin Salman last week. Crude oil prices added another +3.69%, closing at ... (full story)

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  • Category: Fundamental Analysis