JWN Energy Group’s Daily Oil Bulletin
16 December 2019
Saudi Arabia rode to the rescue of crude oil prices yet again by pushing through 500,000-bbl-day of additional output cuts for the first quarter of next year. This was reportedly after putting the price war gun to the heads of fellow OPEC+ members, especially laggards to the previous production pact such as Iraq, Nigeria and Russia … Geopolitics Central (GPC) now believes the greatest risk for prices is on the upside and substantial, with the Abqaiq attack in mid-September a possible harbinger of things to come for Persian Gulf oil supply.
To read more:
https://www.dailyoilbulletin.com/article/2019/12/16/a-crude-oil-price-surprise-for-2020/
