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OPEC Held Technical Panel on Oil Market

OIL

OPEC held a technical panel, chaired by OPEC Secretary General, HE Haitham Al Ghais, with market experts to discuss the recent speculative trends and their impact on market fundamentals, OPEC said on X.

  • "Market sentiment had been fragmented for much of this year, but the evidence is that there has been a recent shift in collective sentiment to bearish as we head towards the end of the calendar year," one of the presentation slides by Onyx Capital Group showed, seen by Reuters.
  • The meeting was attended by a panel of experts from investment banks, consultancies and commodity investors, OPEC said.
  • HE Al Ghais noted that “since the emergence of oil as an asset class, the increasing financialization of the futures market has impacted curve structures and market stability." “It is further complicated by computerized trading, with algorithms, Big Data and artificial intelligence playing important roles,” HE Al Ghais added.
  • HE Al Ghais said: “This requires continuous monitoring and analysis, as well as engagement with market participants.”
Energy BulletsCommodities
Energy BulletsCommodities

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