Oil Demand Concerns Are The Driving Factor For Markets
Publish Date : 2019/08/16 - 06:39

ANZ analysts suggest that it’s clear that concerns over oil
demand have become the driving factor in oil markets with recent escalation in trade tension making the sentiment
overwhelmingly bearish.

Analysts say: "Given the short-term trade agreement, it seems unlikely that the upside factors of oil supply will remain of secondary concern. Also, we set our quarterly price target for Brent crude up to $ 65 per barrel. We have reduced. "

"Business talks changed abruptly when US President Trump announced a 10% tariff on an additional $ 300 billion in imports from China, and although he postponed it, the two sides are still far apart. We have recently looked at the consequences of the global recession on oil demand. While oil is not our main focus in the current situation, This is probably going to be of great importance."

“We still believe that the principles in this situation are constructive, with the market tightening in H2 2019 , there are supply constraints and Saudi Arabia's commitment to further restrict them is a supportive measure."

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