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OIL: Oil Supply Side Growth Overestimated: EA

OIL
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The oil markets have over anticipated supply side growth next year according to Energy Aspects director Amrita Sen in an interview with Bloomberg TV.

  • Its “very unlikely” all three factors of  OPEC+ unwinding its barrels, Iran exports remaining high and strong non-OPEC supply growth sustain she said.
  • Brent positioning is showing a net short for the first time ever Sen added. “The positioning data just shows you how bearish the market is,” Sen said.
  • Saudi would like to bring barrels back in December but a lot will depend on demand Sen said. 
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The oil markets have over anticipated supply side growth next year according to Energy Aspects director Amrita Sen in an interview with Bloomberg TV.

  • Its “very unlikely” all three factors of  OPEC+ unwinding its barrels, Iran exports remaining high and strong non-OPEC supply growth sustain she said.
  • Brent positioning is showing a net short for the first time ever Sen added. “The positioning data just shows you how bearish the market is,” Sen said.
  • Saudi would like to bring barrels back in December but a lot will depend on demand Sen said.