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OPEC Looking for "Maximum Value" for its Members: Blackrock's Hambro

OIL

OPEC is looking to create “maximum value” according to BlackRock’s Head of Thematic Investing Evy Hambro in a Bloomberg TV interview – so will make sure its oil is sold at a price that’s acceptable to all its members.

  • “Markets remain very tight; we have a balance between supply and demand that doesn’t leave much spare capacity” Hambro said.
  • “One of the things that gives us confidence on that is the very low level of inventories globally” he added.
  • “If that means that [OPEC+} volume cuts need to take place, then they will happen,” Hambro said without committing to his thoughts on the OPEC meeting outcome.

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