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OPEC Deal "Really Bullish": Energy Aspects

OIL

Energy Aspects Director of Research Amrita Sen has referred to the latest OPEC+ deal as “really bullish” in an interview with CNBC.

  • “the fact the group extended the measures all the way through 2024 shows solidarity – it shows they are very serious that the market is balanced and they have put a floor on prices.” Sen said.
  • “some of the baseline changes are well overdue, we are still using October 2018 as the base” she added.
  • Saudi’s move to shore up OPEC+ supply levels is not a sign of weak demand and is just a precautionary measure according to Sen.

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