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Oil Outlook: prices stabilise?
There seemed to be relatively low volatility for oil prices since last week’s report. In the current report, we intend to have a look at the state of the US oil market, the role of the USD in determining oil prices and the production outlook of OPEC and Russia under the prospect of the OPEC+ meeting on June 1st. To conclude the report we will also provide a technical analysis of WTI’s daily chart. Slack in the US oil market We start our analysis of the US oil market by having a look at the release of the Baker Hughes oil rig count. The release indicated that the number of active oil rigs in the US increased by ... (full story)