WTI CRUDE wedged between weak Global Growth and abundant-supply
WTI CRUDE trading above $50 bbl/d through out 2019. Saudi Aramco attack pushed prices almost 10% high in single day, BUT gains erased as supply-cut was fixed sooner than market expects.
OPEC production cut vows just could support the price from falling further. Trading Range is between $50-60 bbl/d. Global growth is slow and so is oil demand which is main reason of
lower oil prices. Some economies are taking it as a blessing but those fighting with deflationary forces are really struggling.
OPEC production cut vows just could support the price from falling further. Trading Range is between $50-60 bbl/d. Global growth is slow and so is oil demand which is main reason of
lower oil prices. Some economies are taking it as a blessing but those fighting with deflationary forces are really struggling.