The Drill – Oil is NOT particularly dependent on the US election
With China playing headline hockey, Israel and Iran trading symbolic jabs, and OPEC+ swearing off production hikes like a smoker promising to quit on Monday (we’ve heard that one before), the oil market is truly wandering without a GPS.
Remember, sometimes no trade is a trade.
In this week’s The Drill series, we’ll break down the key factors that could influence oil price fundamentals over the next few months. We believe the U.S. will continue setting new records for oil production, regardless of the election results just a few hours away.
The fundamental outlook for oil remains bearish, no matter the outcome.
Chart of the week: The US is setting new records for oil production under A DEMOCRAT
While the world is busy guessing who will win this election, we’re here scratching our heads over what the story for oil will be in the coming months. Will the Saudis flood the markets after the election?
0 Comments