A Crude Oil Price Surprise For 2020?

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.

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