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Abstract:Oil Weekly Forecast: The Impact of Ida, OPEC Supply Boost and Chinas Oil Reserves Auction
Oil Weekly Forecast: The Impact of Ida, OPEC Supply Boost and Chinas Oil Reserves Auction
BRENT CRUDE OIL FUNDAMENTALS:
OPEC to potentially downgrade optimistic 2022 oil demand forecast on Monday
Effects of Hurricane Ida on oil prices remains modest
China auctions oil reserves to shelter local refining businesses from increasing raw material prices
OPEC SET TO DOWNGRADE OPTIMISTIC OIL DEMAND FORECAST IN LIGHT OF DELTA RISKS
OPEC will likely trim its forecast for 2022 global oil demand in light of increasing challenges around the spread of the Delta variant. OPEC, the International Energy Agency (IEA) and the Energy Information Administration (EIA) all produced forecasts for the remainder 2021 and all of 2022 with OPEC the most optimistic on both estimates.
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