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(1/2)"In the coming weeks, we expect............>

OIL
OIL: (1/2)"In the coming weeks, we expect Hurricane Harvey's impact to make it
harder for OPEC to rebalance the market and maintain bullish sentiment," said
commodity strategists at Barclays in a note.
- "Disruptions to refineries, production and trade will also make the weekly EIA
data even noisier and less useful as a high frequency indicator at the very time
OPEC needs it most," they said.
- While production impacts may linger going forward, demand will likely slip
sharply in coming weeks "due to a lack of driving-related demand," the
strategists said.
- "Harvey will raise product prices nationwide, denting demand, especially in
September," they said.
- "Flooding and destruction in 2005 and 2008 cut demand by more than 1 mb/d
between August and September, twice as much as the m/m seasonal downtrend,"
Barclays reminded.
Energy BulletsCommodities
Energy BulletsCommodities

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